Restaurant

Red Lobster

2080 Sam Rittenberg Blvd, Charleston, SC 29407

Listing Price: $3,096,947

Cap Rate
6.00%
Tenant Name
Red Lobster Restaurnts LLC and Red Lobster Hospitality LLC (jointly & severally)
Years Remaining On Lease
13.9
Gross SF
7,821
Guarantor
Corporate Guarantee
Rentable SF
7,821
Price/Gross SF
$395.98
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.76

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 2080 Sam Rittenberg Boulevard in Charleston, SC. The site consists of roughly 7,821 rentable square feet of building space on an estimated 1.99-acre parcel of land. This Red Lobster is subject to a 19.9-year absolute triple-net lease, which commenced February 10, 2015. The current annual rent is $182,173 and is scheduled to increase by two percent annually throughout the remainder of the base term and in each of the four, five-year tenant renewal options.

Investment Highlights

  • Long-Term, 19.9-Year Absolute Triple-Net Lease with Nearly 15 Years Remaining
  • Corporate Tenant | Corporate Guaranty
  • Attractive Rental Increases of Two Percent Annually, Beginning in 2021

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): SC: 86628

    South Carolina

Listing Price: $3,096,947

Cap Rate
6.00%
Tenant Name
Red Lobster Restaurnts LLC and Red Lobster Hospitality LLC (jointly & severally)
Years Remaining On Lease
13.9
Gross SF
7,821
Guarantor
Corporate Guarantee
Rentable SF
7,821
Price/Gross SF
$395.98
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.76

Investment Highlights

  • Long-Term, 19.9-Year Absolute Triple-Net Lease with Nearly 15 Years Remaining
  • Corporate Tenant | Corporate Guaranty
  • Attractive Rental Increases of Two Percent Annually, Beginning in 2021

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 2080 Sam Rittenberg Boulevard in Charleston, SC. The site consists of roughly 7,821 rentable square feet of building space on an estimated 1.99-acre parcel of land. This Red Lobster is subject to a 19.9-year absolute triple-net lease, which commenced February 10, 2015. The current annual rent is $182,173 and is scheduled to increase by two percent annually throughout the remainder of the base term and in each of the four, five-year tenant renewal options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): SC: 86628

    South Carolina

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