Restaurant

Red Lobster

3706 US Hwy 98 N, Lakeland, FL 33809

Listing Price: $7,636,250

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
18.5
Gross SF
6,567
Guarantor
Corporate Guarantee
Rentable SF
6,567
Price/Gross SF
$1,162.82
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$69.77

Investment Overview

Marcus & Millichap is pleased to present this trophy Red Lobster property situated along U.S. Highway 98, which boasts an average daily traffic count greater than 53,000 vehicles. U.S. Highway 98 serves as an access route to Interstate-4, which is the main thoroughfare between Tampa and Orlando. Interstate-4 brings an additional 137,000 vehicles into the immediate area on average daily. The subject property greatly benefits from the growing population in the area. There are more than 58,500 individuals residing within a three-mile radius of the property and more than 137,500 individuals within a five-mile radius. These figures have increased by 40% and 36%, respectively, over the past two decades and are projected to continue growing.

Investment Highlights

  • Long-Term, Absolute Triple-Net (NNN) Lease with Approximately 18.75 Years Remaining
  • Trophy Location in Lakeland, FL | Surrounded by National Retail Concepts, Multifami
  • Corporate Tenant | Corporate Guaranty | Attractive Rental Increases of Two Percent

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

Listing Price: $7,636,250

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
18.5
Gross SF
6,567
Guarantor
Corporate Guarantee
Rentable SF
6,567
Price/Gross SF
$1,162.82
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$69.77

Investment Highlights

  • Long-Term, Absolute Triple-Net (NNN) Lease with Approximately 18.75 Years Remaining
  • Trophy Location in Lakeland, FL | Surrounded by National Retail Concepts, Multifami
  • Corporate Tenant | Corporate Guaranty | Attractive Rental Increases of Two Percent

Investment Overview

Marcus & Millichap is pleased to present this trophy Red Lobster property situated along U.S. Highway 98, which boasts an average daily traffic count greater than 53,000 vehicles. U.S. Highway 98 serves as an access route to Interstate-4, which is the main thoroughfare between Tampa and Orlando. Interstate-4 brings an additional 137,000 vehicles into the immediate area on average daily. The subject property greatly benefits from the growing population in the area. There are more than 58,500 individuals residing within a three-mile radius of the property and more than 137,500 individuals within a five-mile radius. These figures have increased by 40% and 36%, respectively, over the past two decades and are projected to continue growing.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

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