Restaurant

Red Lobster

803 S University Dr, Plantation, FL 33324

Listing Price: $7,531,818

Cap Rate
6.00%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
23.6
Gross SF
7,978
Guarantor
Corporate Guarantee
Rentable SF
7,978
Price/Gross SF
$944.07
Lease Type
Absolute Net
Rent Per Square Feet
$56.64

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 803 S University Drive in Plantation, FL. The site consists of roughly 7,978 rentable square feet of building space on an estimated 1.91-acre parcel of land. This Red Lobster is subject to a long-term, absolute triple-net (NNN) lease, which commenced July 28, 2014. The current annual rent is $451,909 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.

Investment Highlights

  • Long-Term, Absolute Triple-Net (NNN) Lease with Approximately 24 Years Remaining on
  • 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

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

Listing Price: $7,531,818

Cap Rate
6.00%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
23.6
Gross SF
7,978
Guarantor
Corporate Guarantee
Rentable SF
7,978
Price/Gross SF
$944.07
Lease Type
Absolute Net
Rent Per Square Feet
$56.64

Investment Highlights

  • Long-Term, Absolute Triple-Net (NNN) Lease with Approximately 24 Years Remaining on
  • 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 803 S University Drive in Plantation, FL. The site consists of roughly 7,978 rentable square feet of building space on an estimated 1.91-acre parcel of land. This Red Lobster is subject to a long-term, absolute triple-net (NNN) lease, which commenced July 28, 2014. The current annual rent is $451,909 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.

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

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

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