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Restaurant

Red Lobster

9801 Independence Pointe Pkwy, Matthews, NC 28105

Listing Price: $4,370,320

Cap Rate
6.25%
Tenant Name
Red Lobster
Years Remaining On Lease
15.7
Gross SF
5,880
Guarantor
Corporate Guarantee
Rentable SF
5,880
Price/Gross SF
$743.25
Lease Type
Absolute Net
Rent Per Square Feet
$46.45

Investment Overview

Marcus & Millichap is pleased to present for sale the Red Lobster location at 9801 Independence Pointe Pkwy in Matthews, NC. This location is on a Corporately guaranteed Absolute Net lease with no landlord responsibilities and features 2% annual rent increases. There are almost 16 years of remaining lease term with four 5-year options to extend.

The subject property consists of a 5,880 SF building on a large 3.22-acre parcel. It is located adjacent to East Independence Blvd, which sees over 54,000 vehicles daily. The property sits in the heart of a major retail corridor, with several national, regional, and local tenants nearby, including Chick-Fil-A, Applebees, Walmart, Target, Costco and many more.

Matthews is part of the Charlotte MSA, which is North Carolina’s largest city. The area has strong demographics, with over 185,000 residents within 5 miles of the property. Matthews is an affluent community, with an average household income of more than $110,000 within a five-mile radius of the property.

Investment Highlights

  • Corporately backed lease with 2% annual increases
  • Absolute net lease with zero landlord responsibilities
  • Densely populated area, with more than 185, 000 residents within 5 miles of the site
  • 15+ years remaining on lease with 4 (5) year options
  • Located in a major retail corridor surrounded by many national tenants
  • More than 54,000 vehicles pass the site every day

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Listing Price: $4,370,320

Cap Rate
6.25%
Tenant Name
Red Lobster
Years Remaining On Lease
15.7
Gross SF
5,880
Guarantor
Corporate Guarantee
Rentable SF
5,880
Price/Gross SF
$743.25
Lease Type
Absolute Net
Rent Per Square Feet
$46.45

Investment Highlights

  • Corporately backed lease with 2% annual increases
  • Absolute net lease with zero landlord responsibilities
  • Densely populated area, with more than 185, 000 residents within 5 miles of the site
  • 15+ years remaining on lease with 4 (5) year options
  • Located in a major retail corridor surrounded by many national tenants
  • More than 54,000 vehicles pass the site every day

Investment Overview

Marcus & Millichap is pleased to present for sale the Red Lobster location at 9801 Independence Pointe Pkwy in Matthews, NC. This location is on a Corporately guaranteed Absolute Net lease with no landlord responsibilities and features 2% annual rent increases. There are almost 16 years of remaining lease term with four 5-year options to extend. The subject property consists of a 5,880 SF building on a large 3.22-acre parcel. It is located adjacent to East Independence Blvd, which sees over 54,000 vehicles daily. The property sits in the heart of a major retail corridor, with several national, regional, and local tenants nearby, including Chick-Fil-A, Applebees, Walmart, Target, Costco and many more. Matthews is part of the Charlotte MSA, which is North Carolina’s largest city. The area has strong demographics, with over 185,000 residents within 5 miles of the property. Matthews is an affluent community, with an average household income of more than $110,000 within a five-mile radius of the property.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

Financing By

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