Restaurant

Red Lobster

255 Graff Rd SE, New Philadelphia, OH 44663

Listing Price: $3,043,689

Cap Rate
6.75%
Tenant Name
Red Lobster Restaurants, LLC
Years Remaining On Lease
20.0
Gross SF
6,166
Guarantor
Corporate Guarantee
Rentable SF
6,166
Price/Gross SF
$493.62
Lease Type
Absolute Net
Rent Per Square Feet
$33.33

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 255 Graff Road S.E., in New Philadelphia, OH. The site consists of roughly 6,166 rentable square feet of building space on an estimated 1.66-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced July 28, 2014. The current annual rent is $205,449 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. At Closing, the seller will escrow 6 months of rent.

Investment Highlights

  • Corporate Tenant | Corporate Guaranty
  • Attractive Rental Increases of Two Percent (2.00%) Annually
  • Long-Term, 25-Year Absolute Triple-Net (NNN) Lease with Approximately 19 Years Remain

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

  • Michael L. Glass

    Senior Vice President / Division Manager

    License(s): OH: BRK.2007005898

    Ohio

Listing Price: $3,043,689

Cap Rate
6.75%
Tenant Name
Red Lobster Restaurants, LLC
Years Remaining On Lease
20.0
Gross SF
6,166
Guarantor
Corporate Guarantee
Rentable SF
6,166
Price/Gross SF
$493.62
Lease Type
Absolute Net
Rent Per Square Feet
$33.33

Investment Highlights

  • Corporate Tenant | Corporate Guaranty
  • Attractive Rental Increases of Two Percent (2.00%) Annually
  • Long-Term, 25-Year Absolute Triple-Net (NNN) Lease with Approximately 19 Years Remain

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 255 Graff Road S.E., in New Philadelphia, OH. The site consists of roughly 6,166 rentable square feet of building space on an estimated 1.66-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced July 28, 2014. The current annual rent is $205,449 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. At Closing, the seller will escrow 6 months of rent.

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

  • Michael L. Glass

    Senior Vice President / Division Manager

    License(s): OH: BRK.2007005898

    Ohio

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