Restaurant

Red Lobster

2077 Riverside Dr, Macon, GA 31204

Listing Price: $4,603,083

Cap Rate
6.00%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
21.5
Guarantor
Corporate Guarantee
Rentable SF
9,638
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$28.66

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 2077 Riverside Drive in Macon, Georgia. The site consists of roughly 9,638 rentable square feet of building space on an estimated 1.48-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 $276,185 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

  • John M. Leonard

    First Vice President/Regional Manager

    License(s): GA: 252904

    Georgia

Listing Price: $4,603,083

Cap Rate
6.00%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
21.5
Guarantor
Corporate Guarantee
Rentable SF
9,638
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$28.66

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 2077 Riverside Drive in Macon, Georgia. The site consists of roughly 9,638 rentable square feet of building space on an estimated 1.48-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 $276,185 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

  • John M. Leonard

    First Vice President/Regional Manager

    License(s): GA: 252904

    Georgia

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