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Restaurant

Red Lobster

575 S Telshor Blvd, Las Cruces, NM 88011

Listing Price: $5,393,686

Cap Rate
5.75%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
20.2
Guarantor
Corporate Guarantee
Rentable SF
8,383
Lease Type
Absolute Net
Rent Per Square Feet
$37.00

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 575 S Telshor Boulevard in Las Cruces, New Mexico. The site consists of roughly 5,000 rentable square feet of building space on an estimated 1.94-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced July 28th, 2014. The current annual rent is $310,137 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, Absolute Triple Net (NNN) Lease, Zero Landlord Obligations
  • 20 Years Of Lease Term Remaining With 2.00% Annual Bumps
  • Four (4), Five (5)-Year Tenant Renewal Options

Exclusively Listed By

Listing Price: $5,393,686

Cap Rate
5.75%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
20.2
Guarantor
Corporate Guarantee
Rentable SF
8,383
Lease Type
Absolute Net
Rent Per Square Feet
$37.00

Investment Highlights

  • Long-Term, Absolute Triple Net (NNN) Lease, Zero Landlord Obligations
  • 20 Years Of Lease Term Remaining With 2.00% Annual Bumps
  • Four (4), Five (5)-Year Tenant Renewal Options

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 575 S Telshor Boulevard in Las Cruces, New Mexico. The site consists of roughly 5,000 rentable square feet of building space on an estimated 1.94-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced July 28th, 2014. The current annual rent is $310,137 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.

Exclusively Listed By

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