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Restaurant

Red Lobster

3112 NW Cache Rd, Lawton, OK 73505

Listing Price: $3,706,500

Cap Rate
6.50%
Tenant Name
Red Lobster
Years Remaining On Lease
17.7
Guarantor
Corporate Guarantee
Rentable SF
6,350
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.94

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Red Lobster located in Lawton, Oklahoma. This Red Lobster offers a 25-year, triple net (NNN) lease with 18 years remaining on the base term. The lease features four, five-year renewal options with two percent annual rent increases. This listing has an average cap rate of 7.73% during base lease term. This Red Lobster is located in Lawton, 88 miles south of Oklahoma City, the state capital and biggest city in Oklahoma. With Cameron University and residential neighborhoods and apartment communities located within a five-mile radius from the Subject Property, this provides an outstanding base of customers for the only upscale seafood restaurant in Lawton. The Subject Property is also four miles from Fort Sill Military Base, with the total population in Fort Sill at approximately 53,000 people including 20,000 military and civilian personnel, and 33,000 military family members. This Red Lobster is located in the major retail corridor on Cache Road with a daily traffic count of 35,000 vehicles. Surrounding national brands include Walmart Supercenter, Sam’s Club, Lowes, Home Depot, Hobby Lobby, Big Lots, AutoZone, Rent A Center, Aldi, Planet Fitness, McDonald’s, Burger King, Dunkin Donuts, Wendy’s, Hampton Inn & Suites, Baymont by Wyndham, La Quinta Inn & Suites and many more.

Investment Highlights

  • Two Percent Annual Rent Increases Throughout Base Term and Option Periods | Average Cap Rate of 7.73% During Base Lease Term
  • 25-Year, Triple Net (NNN) Lease with 18 Years Remaining | Four, Five-Year Tenant Renewal Options
  • Major Retail Corridor on Cache Road With a Daily Traffic Count of More Than 35,000 Vehicles
  • One Mile from Comanche County Memorial Hospital, With 283 Beds, 250 Physicians, and Employs Nearly 2,000 People | 1.5 Miles from Cameron University With a Total Enrollment of 4,142 Students
  • Four Miles from Fort Sill Military Base – Total Population in Fort Sill is Approx. 53,000 Including 20,000 Military and Civilian Personnel, and 33,000 Military Family Members
  • Surrounding National Brands Include Walmart Supercenter, Sam's Club, Lowes, Home Depot, Hobby Lobby, Big Lots, AutoZone, Rent A Center, Aldi, Planet Fitness, McDonald's, Burger King, Dunkin Donuts, Wendy's, Hampton Inn & Suites, Baymont by Wyndham, La Quinta Inn & Suites and Many More

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    (817) 932-6100

    License(s) OK: 181981

    Oklahoma

Restaurant

Red Lobster

Listing Price: $3,706,500

Cap Rate
6.50%
Tenant Name
Red Lobster
Years Remaining On Lease
17.7
Guarantor
Corporate Guarantee
Rentable SF
6,350
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.94

Investment Highlights

  • Two Percent Annual Rent Increases Throughout Base Term and Option Periods | Average Cap Rate of 7.73% During Base Lease Term
  • 25-Year, Triple Net (NNN) Lease with 18 Years Remaining | Four, Five-Year Tenant Renewal Options
  • Major Retail Corridor on Cache Road With a Daily Traffic Count of More Than 35,000 Vehicles
  • One Mile from Comanche County Memorial Hospital, With 283 Beds, 250 Physicians, and Employs Nearly 2,000 People | 1.5 Miles from Cameron University With a Total Enrollment of 4,142 Students
  • Four Miles from Fort Sill Military Base – Total Population in Fort Sill is Approx. 53,000 Including 20,000 Military and Civilian Personnel, and 33,000 Military Family Members
  • Surrounding National Brands Include Walmart Supercenter, Sam's Club, Lowes, Home Depot, Hobby Lobby, Big Lots, AutoZone, Rent A Center, Aldi, Planet Fitness, McDonald's, Burger King, Dunkin Donuts, Wendy's, Hampton Inn & Suites, Baymont by Wyndham, La Quinta Inn & Suites and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Red Lobster located in Lawton, Oklahoma. This Red Lobster offers a 25-year, triple net (NNN) lease with 18 years remaining on the base term. The lease features four, five-year renewal options with two percent annual rent increases. This listing has an average cap rate of 7.73% during base lease term. This Red Lobster is located in Lawton, 88 miles south of Oklahoma City, the state capital and biggest city in Oklahoma. With Cameron University and residential neighborhoods and apartment communities located within a five-mile radius from the Subject Property, this provides an outstanding base of customers for the only upscale seafood restaurant in Lawton. The Subject Property is also four miles from Fort Sill Military Base, with the total population in Fort Sill at approximately 53,000 people including 20,000 military and civilian personnel, and 33,000 military family members. This Red Lobster is located in the major retail corridor on Cache Road with a daily traffic count of 35,000 vehicles. Surrounding national brands include Walmart Supercenter, Sam’s Club, Lowes, Home Depot, Hobby Lobby, Big Lots, AutoZone, Rent A Center, Aldi, Planet Fitness, McDonald’s, Burger King, Dunkin Donuts, Wendy’s, Hampton Inn & Suites, Baymont by Wyndham, La Quinta Inn & Suites and many more.

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    (817) 932-6100

    License(s): OK: 181981

    Oklahoma

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