Restaurant

Red Lobster

Listing Price: $3,834,350

Cap Rate
6.00%
Tenant Name
Red Lobster Restaurants,
Years Remaining On Lease
18.90
Gross SF
5,984
Guarantor
Corporate Guarantee
Rentable SF
5,984
Price/Gross SF
$640.77
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.45

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 14904 West 119th Street in Olathe, KS. The site consists of roughly 5,984 rentable square feet of building space on estimated 1.73-acre parcel of land. The Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced October 28, 2015. The annual rent will be $230,060.63 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 ~19.25 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

Listing Price: $3,834,350

Cap Rate
6.00%
Tenant Name
Red Lobster Restaurants,
Years Remaining On Lease
18.90
Gross SF
5,984
Guarantor
Corporate Guarantee
Rentable SF
5,984
Price/Gross SF
$640.77
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.45

Investment Highlights

  • Long-Term, 25-Year Absolute Triple Net (NNN) Lease with ~19.25 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 14904 West 119th Street in Olathe, KS. The site consists of roughly 5,984 rentable square feet of building space on estimated 1.73-acre parcel of land. The Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced October 28, 2015. The annual rent will be $230,060.63 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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