Restaurant

Red Lobster

Listing Price: $3,375,000

Cap Rate
7.00%
Tenant Name
Red Lobster
Years Remaining On Lease
18.90
Gross SF
6,350
Guarantor
Corporate Guarantee
Rentable SF
6,350
Price/Gross SF
$531.50
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.20

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 19 years remaining on base term. The lease features five, five-year renewal options with two percent annual rent increases. This Red Lobster is located in the major retail corridor on Cache Road with a daily traffic count of nearly 30,000 vehicles. Fort Sill Military Base, Cameron University, and Residential Neighborhoods are located within a five-mile radius from subject property, providing outstanding base of customers for the only upscale seafood restaurant in Lawton, Oklahoma. Total population in Fort Sill is about 53,000 including 20,000 military and civilian personnel, and 33,000 military family members. The subject property is exceptionally located west of I-44 and south of Highway 62. Around the corner from a Walmart Supercenter and Sam’s Club anchored shopping center, surrounding National Retailers Including Walmart, Sam’s Club, KFC, Lowes, Home Depot, McDonald’s, Burger King, Dunkin Donuts, Wendy’s, Big Lots, Party City and Many More.

Investment Highlights

  • Fort Sill Military Base, Cameron University, and Residential Neighborhoods Located within a Five-Mile Radius from Subject Property, Providing Outstanding Base of Customers for the Only Upscale Seafood Restaurant in Lawton, Oklahoma
  • Major Retail Corridor on Cache Road With a Daily Traffic Count of Nearly 30,000 Vehicles
  • 25-Year, Triple Net (NNN) Lease with 19 Years Remaining on Base Term
  • Five, Five-Year Renewal Options with Two Percent Annual Rent Increases
  • Offered at a Seven Percent Cap Rate at $531 Per Square-Foot

Exclusively Listed By

Listing Price: $3,375,000

Cap Rate
7.00%
Tenant Name
Red Lobster
Years Remaining On Lease
18.90
Gross SF
6,350
Guarantor
Corporate Guarantee
Rentable SF
6,350
Price/Gross SF
$531.50
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.20

Investment Highlights

  • Fort Sill Military Base, Cameron University, and Residential Neighborhoods Located within a Five-Mile Radius from Subject Property, Providing Outstanding Base of Customers for the Only Upscale Seafood Restaurant in Lawton, Oklahoma
  • Major Retail Corridor on Cache Road With a Daily Traffic Count of Nearly 30,000 Vehicles
  • 25-Year, Triple Net (NNN) Lease with 19 Years Remaining on Base Term
  • Five, Five-Year Renewal Options with Two Percent Annual Rent Increases
  • Offered at a Seven Percent Cap Rate at $531 Per Square-Foot

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 19 years remaining on base term. The lease features five, five-year renewal options with two percent annual rent increases. This Red Lobster is located in the major retail corridor on Cache Road with a daily traffic count of nearly 30,000 vehicles. Fort Sill Military Base, Cameron University, and Residential Neighborhoods are located within a five-mile radius from subject property, providing outstanding base of customers for the only upscale seafood restaurant in Lawton, Oklahoma. Total population in Fort Sill is about 53,000 including 20,000 military and civilian personnel, and 33,000 military family members. The subject property is exceptionally located west of I-44 and south of Highway 62. Around the corner from a Walmart Supercenter and Sam’s Club anchored shopping center, surrounding National Retailers Including Walmart, Sam’s Club, KFC, Lowes, Home Depot, McDonald’s, Burger King, Dunkin Donuts, Wendy’s, Big Lots, Party City and Many More.

Exclusively Listed By

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