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Restaurant

Red Lobster

370 Mall Dr, Danville, VA 24540

Listing Price: $2,994,461

Cap Rate
5.85%
Tenant Name
Red Lobster
Years Remaining On Lease
13.5
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

Broker of Record

  • Dawson Rinder

    Associate Regional Manager

    (804) 205-5008

    License(s) VA: 0225215181

    Virginia

Listing Price: $2,994,461

Cap Rate
5.85%
Tenant Name
Red Lobster
Years Remaining On Lease
13.5
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

Broker of Record

  • Dawson Rinder

    Associate Regional Manager

    (804) 205-5008

    License(s): VA: 0225215181

    Virginia

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