Restaurant

Red Lobster

670 NW Blue Pkwy, Lee's Summit, MO 64063

Listing Price: $5,321,550

Cap Rate
6.00%
Tenant Name
Red Lobster
Gross SF
9,283
Guarantor
Corporate Guarantee
Rentable SF
9,283
Price/Gross SF
$573.26
Lease Type
Absolute Net
Rent Per Square Feet
$34.40

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 670 NW Blue Parkway in Lees Summit, Missouri. The site consists of roughly 7,018 rentable square feet of building space on an estimated 1.74-acre parcel of land.

This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced December 17th, 2015. The current annual rent is $319,293 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, Zero Landlord Obligations
  • Has 22 Years Of Lease Term Remaining With Two Percent Annual Bumps
  • Has Four, Five-Year Tenant Renewal Options

Exclusively Listed By

Broker of Record

  • Bradley Barham

    First Vice President Investments

    License(s): MO: 2013016939

    Missouri

Listing Price: $5,321,550

Cap Rate
6.00%
Tenant Name
Red Lobster
Gross SF
9,283
Guarantor
Corporate Guarantee
Rentable SF
9,283
Price/Gross SF
$573.26
Lease Type
Absolute Net
Rent Per Square Feet
$34.40

Investment Highlights

  • Long-Term, Absolute Triple Net (NNN) Lease, Zero Landlord Obligations
  • Has 22 Years Of Lease Term Remaining With Two Percent Annual Bumps
  • Has Four, Five-Year Tenant Renewal Options

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 670 NW Blue Parkway in Lees Summit, Missouri. The site consists of roughly 7,018 rentable square feet of building space on an estimated 1.74-acre parcel of land.

This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced December 17th, 2015. The current annual rent is $319,293 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

Broker of Record

  • Bradley Barham

    First Vice President Investments

    License(s): MO: 2013016939

    Missouri

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