3217 N Vermilion St, Danville, IL 61832
Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 3217 Vermilion Street in Danville, IL. The site consists of roughly 8,565 rentable square feet of building space on an estimated 1.42-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 $170,000 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. At Closing, the seller will escrow six months of rent.
License(s): IL: 471.011175
Illinois
Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 3217 Vermilion Street in Danville, IL. The site consists of roughly 8,565 rentable square feet of building space on an estimated 1.42-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 $170,000 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. At Closing, the seller will escrow six months of rent.
License(s): IL: 471.011175
Illinois
