Restaurant

Red Lobster

25901 Hoover Rd, Warren, MI 48089

Listing Price: $5,171,819

Cap Rate
6.25%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
23.70
Gross SF
7,583
Guarantor
Corporate Guarantee
Rentable SF
7,583
Price/Gross SF
$682.03
Lease Type
Absolute Net
Rent Per Square Feet
$42.63

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 25901 Hoover Road, in Warren, MI. The site consists of roughly 7,583 rentable square feet of building space on an estimated 2.41-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 $323,239 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.

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 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

  • Steven Chaben

    Senior Vice President / Regional Manager

    License(s): MI: 6502387903

    Michigan

Listing Price: $5,171,819

Cap Rate
6.25%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
23.70
Gross SF
7,583
Guarantor
Corporate Guarantee
Rentable SF
7,583
Price/Gross SF
$682.03
Lease Type
Absolute Net
Rent Per Square Feet
$42.63

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 Annually

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 25901 Hoover Road, in Warren, MI. The site consists of roughly 7,583 rentable square feet of building space on an estimated 2.41-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 $323,239 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.

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

  • Steven Chaben

    Senior Vice President / Regional Manager

    License(s): MI: 6502387903

    Michigan

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