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Restaurant

Red Lobster

3600 N Hwy 75, Sherman, TX 75092

Listing Price: $5,437,000

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
17.8
Gross SF
7,189
Guarantor
Corporate Guarantee
Rentable SF
7,189
Price/Gross SF
$756.29
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$45.39

Investment Overview

The tenant, Red Lobster is the largest seafood restaurant concept in the world and operates over 700 restaurants. The original 25-year year NNN has annual 2% increases. Additionally the tenant has four-5 year renewal options. The property is well located on a high traffic highway with a traffic count over 43,000 VPD, and is situated adjacent to a 485,000 SF regional shopping center anchored by large retailers including Hobby Lobby, Walmart, Bed Bath & Beyond, Best Buy, Home Depot, Walmart, Cinemark.

Investment Highlights

  • 25-Year Absolute NNN Lease with Corporate Guaranty
  • 18 years remaining on lease term
  • Strong traffic count - located in a dense retail corridor

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Listing Price: $5,437,000

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
17.8
Gross SF
7,189
Guarantor
Corporate Guarantee
Rentable SF
7,189
Price/Gross SF
$756.29
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$45.39

Investment Highlights

  • 25-Year Absolute NNN Lease with Corporate Guaranty
  • 18 years remaining on lease term
  • Strong traffic count - located in a dense retail corridor

Investment Overview

The tenant, Red Lobster is the largest seafood restaurant concept in the world and operates over 700 restaurants. The original 25-year year NNN has annual 2% increases. Additionally the tenant has four-5 year renewal options. The property is well located on a high traffic highway with a traffic count over 43,000 VPD, and is situated adjacent to a 485,000 SF regional shopping center anchored by large retailers including Hobby Lobby, Walmart, Bed Bath & Beyond, Best Buy, Home Depot, Walmart, Cinemark.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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