Restaurant

Red Crab | Expanding Brand | Fredericksburg, VA

1801 Carl D. Silver Pkwy, Fredericksburg, VA 22401

Listing Price: $3,109,244

Cap Rate
5.95%
Tenant Name
Red Crab
Years Remaining On Lease
9.6
Guarantor
Private Guarantee
Rentable SF
7,705
Lease Type
NNN Ground Lease
Rent Per Square Feet
$24.01

Investment Overview

STRONG INTRINIC VALUE & BELOW MARKET RENT– The Tenant made a six-figure investment into renovating this former Smokey Bones restaurant. The landlord did an “as is” deal which provides strong residual to the investor for this 1.7-acre parcel. Further, the Tenant’s rental rate is estimated to be slightly below market by $2 PSF. The neighboring BJ’s Brewhouse was re-let for $26 PSF NNN in 2017.

Investment Highlights

  • NEW 10-YEAR LEASE WITH THREE PERCENT ANNUAL RENTAL INCREASES
  • 6.5% AVERAGE YIELD OVER 10-YEAR HOLD
  • EXPANDING RESTAURANT CONCEPT WITH 29 LOCATIONS AND 14 "COMING SOON"

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

Restaurant

Red Crab | Expanding Brand | Fredericksburg, VA

Listing Price: $3,109,244

Cap Rate
5.95%
Tenant Name
Red Crab
Years Remaining On Lease
9.6
Guarantor
Private Guarantee
Rentable SF
7,705
Lease Type
NNN Ground Lease
Rent Per Square Feet
$24.01

Investment Highlights

  • NEW 10-YEAR LEASE WITH THREE PERCENT ANNUAL RENTAL INCREASES
  • 6.5% AVERAGE YIELD OVER 10-YEAR HOLD
  • EXPANDING RESTAURANT CONCEPT WITH 29 LOCATIONS AND 14 "COMING SOON"

Investment Overview

STRONG INTRINIC VALUE & BELOW MARKET RENT– The Tenant made a six-figure investment into renovating this former Smokey Bones restaurant. The landlord did an “as is” deal which provides strong residual to the investor for this 1.7-acre parcel. Further, the Tenant’s rental rate is estimated to be slightly below market by $2 PSF. The neighboring BJ’s Brewhouse was re-let for $26 PSF NNN in 2017.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

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