Restaurant

Red Lobster

3700 Park Sierra Dr, Riverside, CA 92505

Listing Price: $6,102,422

Cap Rate
6.00%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
23.90
Gross SF
7,963
Guarantor
Corporate Guarantee
Rentable SF
7,963
Price/Gross SF
$766.35
Lease Type
Absolute Net
Rent Per Square Feet
$45.98

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 3700 Park Sierra Drive, in Riverside, California. The site consists of roughly 7,963 rentable square feet of building space on an estimated 0.92-acre parcel of land. This Red Lobster is subject to a long-term, absolute triple-net (NNN) lease, which commenced July 28, 2014. The current annual rent is $366,145 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 with Approximately 24 Years Remaining
  • Corporate Tenant | Corporate Guaranty
  • Four (4), Five (5)-Year Tenant Renewal Options

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Listing Price: $6,102,422

Cap Rate
6.00%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
23.90
Gross SF
7,963
Guarantor
Corporate Guarantee
Rentable SF
7,963
Price/Gross SF
$766.35
Lease Type
Absolute Net
Rent Per Square Feet
$45.98

Investment Highlights

  • Long-Term, Absolute Triple-Net (NNN) Lease with Approximately 24 Years Remaining
  • Corporate Tenant | Corporate Guaranty
  • Four (4), Five (5)-Year Tenant Renewal Options

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for a Red Lobster located at 3700 Park Sierra Drive, in Riverside, California. The site consists of roughly 7,963 rentable square feet of building space on an estimated 0.92-acre parcel of land. This Red Lobster is subject to a long-term, absolute triple-net (NNN) lease, which commenced July 28, 2014. The current annual rent is $366,145 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

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

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