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Restaurant

Red Lobster

271 N Dupont Hwy, Dover, DE 19901

Listing Price: $5,129,361

Cap Rate
6.10%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
9,283
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.71

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 271 North Dupont Highway in Dover, Delaware. The site consists of roughly 9,283 rentable square feet of building space on an estimated 1.10-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced December 17th, 2015. The current annual rent is $312,891 and is scheduled to increase by 2.00% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.

Investment Highlights

  • Long-Term, Absolute Triple Net (NNN) Lease, Zero Landlord Obligations
  • +/- 20 Years Of Lease Term Remaining With 2.00% Annual Bumps
  • Four (4), Five (5)-Year Tenant Renewal Options

Exclusively Listed By

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s) DE: RB-0031090

    Delaware

Restaurant

Red Lobster

Listing Price: $5,129,361

Cap Rate
6.10%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
9,283
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.71

Investment Highlights

  • Long-Term, Absolute Triple Net (NNN) Lease, Zero Landlord Obligations
  • +/- 20 Years Of Lease Term Remaining With 2.00% Annual Bumps
  • Four (4), Five (5)-Year Tenant Renewal Options

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 271 North Dupont Highway in Dover, Delaware. The site consists of roughly 9,283 rentable square feet of building space on an estimated 1.10-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced December 17th, 2015. The current annual rent is $312,891 and is scheduled to increase by 2.00% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.

Exclusively Listed By

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s): DE: RB-0031090

    Delaware

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