Restaurant
Red Lobster
1814 Gallatin Pike N, Nashville, TN 37115
Listing Price: $5,951,500
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 1814 Gallatin Pike N in Madison, Tennessee. The site consists of roughly 9,674 rentable square feet of building space on an estimated 1.00-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced December 17th, 2015. The current annual rent is $357,090 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.
Listing Price: $5,951,500
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 1814 Gallatin Pike N in Madison, Tennessee. The site consists of roughly 9,674 rentable square feet of building space on an estimated 1.00-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced December 17th, 2015. The current annual rent is $357,090 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.
