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Restaurant

Red Lobster

425 W Dekalb Pike, King of Prussia, PA 19406

Listing Price: $6,203,691

Cap Rate
4.85%
Tenant Name
Red Lobster Intermediate Holdings, LLC
Years Remaining On Lease
17.5
Guarantor
Corporate Guarantee
Rentable SF
9,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.43

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 425 West DeKalb Pike in King of Prussia, PA. The site consists of roughly 9,000 rentable square feet of building space on an estimated 1.67-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced July 28, 2014. The current annual rent is $300,879 and is scheduled to increase by 2.00% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.

Investment Highlights

  • Long-Term, 25-Year Absolute Triple-Net (NNN) Lease with Approximately 17.7 Years Remaining on the Base Term
  • Located Less Than ½ Mile From the King of Prussia Mall | Largest Mall on East Coast With Over 450 Tenants
  • Corporate Tenant | Corporate Guaranty

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Listing Price: $6,203,691

Cap Rate
4.85%
Tenant Name
Red Lobster Intermediate Holdings, LLC
Years Remaining On Lease
17.5
Guarantor
Corporate Guarantee
Rentable SF
9,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.43

Investment Highlights

  • Long-Term, 25-Year Absolute Triple-Net (NNN) Lease with Approximately 17.7 Years Remaining on the Base Term
  • Located Less Than ½ Mile From the King of Prussia Mall | Largest Mall on East Coast With Over 450 Tenants
  • Corporate Tenant | Corporate Guaranty

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 425 West DeKalb Pike in King of Prussia, PA. The site consists of roughly 9,000 rentable square feet of building space on an estimated 1.67-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced July 28, 2014. The current annual rent is $300,879 and is scheduled to increase by 2.00% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

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