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Restaurant

Red Lobster

670 NW Blue Pkwy, Lee's Summit, MO 64063

Listing Price: $5,645,700

Cap Rate
6.00%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
7,018
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$48.27

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 670 NW Blue Parkway in Lee’s Summit, Missouri. The site consists of roughly 7,018 rentable square feet of building space on an estimated 1.74-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 $338,742 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

  • David Saverin

    Regional Manager

    (314) 889-2500

    License(s) MO: 2008013520

    Missouri

Listing Price: $5,645,700

Cap Rate
6.00%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
7,018
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$48.27

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 670 NW Blue Parkway in Lee’s Summit, Missouri. The site consists of roughly 7,018 rentable square feet of building space on an estimated 1.74-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 $338,742 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

  • David Saverin

    Regional Manager

    (314) 889-2500

    License(s): MO: 2008013520

    Missouri

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