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Restaurant

Red Lobster

370 Mall Dr, Danville, VA 24540

Listing Price: $2,848,390

Cap Rate
6.18%
Tenant Name
Red Lobster
Years Remaining On Lease
13.3
Guarantor
Corporate Guarantee
Rentable SF
5,498
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.86

Investment Overview

Located at the entrance to the Danville Mall, currently owned by the Hull Company, a very large retail mall owner and developer. Anchored by Belk and Dunham Sports, complimenting the 28 other stores. Located only 2.6 miles from the site of a soon to be built Caesar's Casino, an over $400 million investment which is expected to employ over 2500 people and generate well over $38 million in tax revenue to the city.?

Investment Highlights

  • In 8th year of an original 20 year lease with options – 12 years remaining.
  • 2% annual increases that continue throughout the remaining term and into the option periods.?
  • National brand with over 700 locations, recently acquired by the Thai Union and partners.

Exclusively Listed By

  • Alan Cafiero

    Senior Managing Director Investments

    (201) 742-6118

    Email Alan

    License(s): NJ: 0791092

    New Jersey

  • Ben Sgambati

    Senior Vice President Investments

    (201) 742-6113

    Email Ben

    License(s): NJ: 8337646, NY: 30SG0878955

    New Jersey

Listing Price: $2,848,390

Cap Rate
6.18%
Tenant Name
Red Lobster
Years Remaining On Lease
13.3
Guarantor
Corporate Guarantee
Rentable SF
5,498
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.86

Investment Highlights

  • In 8th year of an original 20 year lease with options – 12 years remaining.
  • 2% annual increases that continue throughout the remaining term and into the option periods.?
  • National brand with over 700 locations, recently acquired by the Thai Union and partners.

Investment Overview

Located at the entrance to the Danville Mall, currently owned by the Hull Company, a very large retail mall owner and developer. Anchored by Belk and Dunham Sports, complimenting the 28 other stores. Located only 2.6 miles from the site of a soon to be built Caesar's Casino, an over $400 million investment which is expected to employ over 2500 people and generate well over $38 million in tax revenue to the city.?

Exclusively Listed By

  • Alan Cafiero

    Senior Managing Director Investments

    (201) 742-6118

    Email Alan

    License(s): NJ: 0791092

    New Jersey

  • Ben Sgambati

    Senior Vice President Investments

    (201) 742-6113

    Email Ben

    License(s): NJ: 8337646, NY: 30SG0878955

    New Jersey

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