Restaurant
Red Lobster
7750 Winchester Rd, Memphis, TN 38125
Listing Price: $4,870,983
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 7750 Winchester Boulevard in Memphis, Tennessee. The site consists of roughly 7,222 rentable square feet of building space on an estimated 0.88-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 $292,259 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.
Listing Price: $4,870,983
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 7750 Winchester Boulevard in Memphis, Tennessee. The site consists of roughly 7,222 rentable square feet of building space on an estimated 0.88-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 $292,259 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.
