Restaurant

Red Lobster

4231 196th St SW, Lynnwood, WA 98036

Listing Price: $8,996,691

Cap Rate
5.50%
Tenant Name
Net Leased Casual Dining
Years Remaining On Lease
18.90
Gross SF
9,382
Guarantor
Corporate Guarantee
Rentable SF
9,382
Price/Gross SF
$958.93
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$52.75

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 4231 196th Street SW in Lynnwood, Washington. The site consists of roughly 9,382 rentable square feet of building space on estimated 1.69-acre parcel of land. The Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced December 17, 2015. The annual rent will be $494,939 on August 1, 2020 and is scheduled to increase by two percent (2.00%) annually throughout the base term and in each of the four (4), five (5)-year renewal options.

Investment Highlights

  • Long-Term, 25-Year Absolute Triple Net (NNN) Lease with ~19.5 Years Remaining
  • Corporate Guaranty (700+ Locations in U.S. & Canada)
  • Attractive Two Percent (2.00%) Annual Rental Increases

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

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

    Manhattan

  • Josh Kanter

    Licensed Real Estate Salesperson

    (212) 430-5189

    Email Josh

    License(s): NY: 10401265643

    Manhattan

Restaurant

Red Lobster

Listing Price: $8,996,691

Cap Rate
5.50%
Tenant Name
Net Leased Casual Dining
Years Remaining On Lease
18.90
Gross SF
9,382
Guarantor
Corporate Guarantee
Rentable SF
9,382
Price/Gross SF
$958.93
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$52.75

Investment Highlights

  • Long-Term, 25-Year Absolute Triple Net (NNN) Lease with ~19.5 Years Remaining
  • Corporate Guaranty (700+ Locations in U.S. & Canada)
  • Attractive Two Percent (2.00%) Annual Rental Increases

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 4231 196th Street SW in Lynnwood, Washington. The site consists of roughly 9,382 rentable square feet of building space on estimated 1.69-acre parcel of land. The Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced December 17, 2015. The annual rent will be $494,939 on August 1, 2020 and is scheduled to increase by two percent (2.00%) annually throughout the base term and in each of the four (4), five (5)-year 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

  • Josh Kanter

    Licensed Real Estate Salesperson

    (212) 430-5189

    Email Josh

    License(s): NY: 10401265643

    Manhattan

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