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Restaurant

Red Lobster

3805 Burbank Rd, Wooster, OH 44691

Listing Price: $3,151,000

Cap Rate
6.00%
Tenant Name
Red Lobster Restaurants, LLC
Years Remaining On Lease
19.6
Gross SF
4,233
Guarantor
Corporate Guarantee
Rentable SF
4,233
Price/Gross SF
$744.39
Lease Type
Absolute Net
Rent Per Square Feet
$44.66

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 3805 Burbank Road in Wooster, OH. The site consists of roughly 4,233 rentable square feet of building space on an estimated 1.22-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 $185,353 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

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

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

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Listing Price: $3,151,000

Cap Rate
6.00%
Tenant Name
Red Lobster Restaurants, LLC
Years Remaining On Lease
19.6
Gross SF
4,233
Guarantor
Corporate Guarantee
Rentable SF
4,233
Price/Gross SF
$744.39
Lease Type
Absolute Net
Rent Per Square Feet
$44.66

Investment Highlights

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

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 3805 Burbank Road in Wooster, OH. The site consists of roughly 4,233 rentable square feet of building space on an estimated 1.22-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 $185,353 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

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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