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Restaurant

Red Lobster

2847 Washington Rd, Augusta, GA 30909

Listing Price: $5,193,483

Cap Rate
6.00%
Tenant Name
Red Lobster Restaurants, LLC
Years Remaining On Lease
19.6
Gross SF
8,163
Guarantor
Corporate Guarantee
Rentable SF
8,163
Price/Gross SF
$636.22
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.17

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for Red Lobster located at 2847 Washington Road in Augusta, Georgia. The property is roughly 8,163 square feet and is situated on approximately 1.91 acres of land. This Red Lobster is subject to a 25-year triple-net (NNN) lease, with roughly 19 years remaining on the lease. Current annual rent is $311,609. The rent is scheduled to increase by two percent annually, including through the four, five 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 ~19 Years Remaining
  • Corporate Guaranty (700+ Locations in U.S. & Canada)
  • Attractive Two Percent (2.00%) Annual Rental Increases

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

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Listing Price: $5,193,483

Cap Rate
6.00%
Tenant Name
Red Lobster Restaurants, LLC
Years Remaining On Lease
19.6
Gross SF
8,163
Guarantor
Corporate Guarantee
Rentable SF
8,163
Price/Gross SF
$636.22
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.17

Investment Highlights

  • Long-Term, 25-Year Absolute Triple Net (NNN) Lease with ~19 Years Remaining
  • Corporate Guaranty (700+ Locations in U.S. & Canada)
  • Attractive Two Percent (2.00%) Annual Rental Increases

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for Red Lobster located at 2847 Washington Road in Augusta, Georgia. The property is roughly 8,163 square feet and is situated on approximately 1.91 acres of land. This Red Lobster is subject to a 25-year triple-net (NNN) lease, with roughly 19 years remaining on the lease. Current annual rent is $311,609. The rent is scheduled to increase by two percent annually, including through the four, five 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

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

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