Restaurant

Red Lobster

3056 Preston Rd, Frisco, TX 75034

Listing Price: $6,243,233

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
18.5
Gross SF
7,087
Guarantor
Corporate Guarantee
Rentable SF
7,087
Price/Gross SF
$880.94
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$52.86

Investment Overview

Marcus & Millichap is pleased to present this Red Lobster property situated along Preston Road, which boasts an average daily traffic count of approximately 45,500 vehicles. Preston Road serves as an access route to Sam Rayburn Tollway, which brings an additional 131,600 into the immediate area on average daily. There are more nearly 108,000 individuals residing within a three-mile radius of the property and more than 292,900 individuals within a five-mile radius.
The subject property benefits from being well-positioned in an extremely dense suburban area in a retail corridor consisting of national and local tenants, shopping centers, hospitality accommodations, and academic institutions all within close proximity of this property. Major national tenants include: Walmart, McDonalds Chick-fil-A, Burger King, Lowes, Home Depot, Nordstrom, Taco Bell, Outback Steakhouse, Wells Fargo, JP Morgan Chase Bank, Wendys, Applebees, Olive Garden, Blaze Pizza and many more. Within just two miles of the subject property is a practice facility for the Dallas Cowboys, a 91-Acre Development with retailers, and merchants alike, able to seat up to 12,000. Within just a mile of the subject property there are three major shopping centers: The Centre at Preston Ridge, Preston Ridge Shopping Center and the Stonebriar Centre Mall. The Mall is home to over 205 premiere tenants and retailers. Additionally, several hospitality accommodations are within immediate proximity to the subject investment property. These include: Comfort Inn & Suites, Homewood Suites, Courtyard, Dallas/Plano Marriot, Aloft Plano, Hampton Inn & Suites, Cambria Hotel, Candlewood Suites and more.

Investment Highlights

  • Long-Term, Absolute Triple-Net (NNN) Lease with Approximately 18.75 Years Remaining
  • Trophy Location in Friscos Retail Cluster | 1.70 Acre Lot | Several Million SF Of
  • Phenomenal Population Density (Nearly 300K in Five Miles) With an Average Household

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    License(s): TX: 9002994

    Texas

Listing Price: $6,243,233

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
18.5
Gross SF
7,087
Guarantor
Corporate Guarantee
Rentable SF
7,087
Price/Gross SF
$880.94
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$52.86

Investment Highlights

  • Long-Term, Absolute Triple-Net (NNN) Lease with Approximately 18.75 Years Remaining
  • Trophy Location in Friscos Retail Cluster | 1.70 Acre Lot | Several Million SF Of
  • Phenomenal Population Density (Nearly 300K in Five Miles) With an Average Household

Investment Overview

Marcus & Millichap is pleased to present this Red Lobster property situated along Preston Road, which boasts an average daily traffic count of approximately 45,500 vehicles. Preston Road serves as an access route to Sam Rayburn Tollway, which brings an additional 131,600 into the immediate area on average daily. There are more nearly 108,000 individuals residing within a three-mile radius of the property and more than 292,900 individuals within a five-mile radius.
The subject property benefits from being well-positioned in an extremely dense suburban area in a retail corridor consisting of national and local tenants, shopping centers, hospitality accommodations, and academic institutions all within close proximity of this property. Major national tenants include: Walmart, McDonalds Chick-fil-A, Burger King, Lowes, Home Depot, Nordstrom, Taco Bell, Outback Steakhouse, Wells Fargo, JP Morgan Chase Bank, Wendys, Applebees, Olive Garden, Blaze Pizza and many more. Within just two miles of the subject property is a practice facility for the Dallas Cowboys, a 91-Acre Development with retailers, and merchants alike, able to seat up to 12,000. Within just a mile of the subject property there are three major shopping centers: The Centre at Preston Ridge, Preston Ridge Shopping Center and the Stonebriar Centre Mall. The Mall is home to over 205 premiere tenants and retailers. Additionally, several hospitality accommodations are within immediate proximity to the subject investment property. These include: Comfort Inn & Suites, Homewood Suites, Courtyard, Dallas/Plano Marriot, Aloft Plano, Hampton Inn & Suites, Cambria Hotel, Candlewood Suites and more.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    License(s): TX: 9002994

    Texas

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