Restaurant
Red Lobster
3706 US Hwy 98 N, Lakeland, FL 33809
Listing Price: $7,330,800
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.
Listing Price: $7,330,800
Investment Highlights
- Corporate Tenant | Corporate Guaranty | Attractive Rental Increases of Two Percent
- Long-Term, Absolute Triple-Net (NNN) Lease with Approximately 18.75 Years Remaining
- Trophy Location in Lakeland, FL | Surrounded by National Retail Concepts, Multifami
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.
