Restaurant

Red Lobster

72291 CA-111, Palm Desert, CA 92260

Listing Price: $6,101,081

Cap Rate
6.15%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
23.6
Gross SF
6,145
Guarantor
Corporate Guarantee
Rentable SF
6,145
Price/Gross SF
$992.85
Lease Type
Absolute Net
Rent Per Square Feet
$61.06

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 72291 Highway 111 in Palm Desert, CA. The site consists of roughly 6,145 rentable square feet of building space on an estimated 1.33-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 $375,216 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

  • Corporate Tenant | Corporate Guaranty
  • Attractive Rental Increases of Two Percent (2.00%) Annually
  • 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

  • Matthew Luchs

    Regional Manager

    License(s): CA: 01948233

    California

Listing Price: $6,101,081

Cap Rate
6.15%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
23.6
Gross SF
6,145
Guarantor
Corporate Guarantee
Rentable SF
6,145
Price/Gross SF
$992.85
Lease Type
Absolute Net
Rent Per Square Feet
$61.06

Investment Highlights

  • Corporate Tenant | Corporate Guaranty
  • Attractive Rental Increases of Two Percent (2.00%) Annually
  • Four (4), Five (5)-Year Tenant Renewal Options

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 72291 Highway 111 in Palm Desert, CA. The site consists of roughly 6,145 rentable square feet of building space on an estimated 1.33-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 $375,216 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

  • Matthew Luchs

    Regional Manager

    License(s): CA: 01948233

    California

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