Red Lobster

12235 St Charles Rock Rd, Bridgeton, MO 63044

$5,124,551

Cap Rate 7.39%

Views: 37 DOM: 121 Updated: 05.14.24 Posted: 01.17.24 Status: Active

Summary

Price $5,124,551	Built/Renov 1973/2012	Tenant Red Lobster
Cap Rate 7.39%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 8,534	Lease Start 07-31-2019	#Units 700
Price/SF $600.49	Expiration 07-31-2034	Tenant Type Casual Dining
NOI $378,780	R. Term 10.2	Ownership Fee Simple
Rent/SF $44.38	Increases 2.0%/1/yrs	Pop 5Mi 143,041
Lot/AC 1.67	Options 4/5yrs/2%	AHHI 5Mi $72,884

Jesse Limon

Marcus & Millichap

Contact

Lease Highlights

Red Lobster has 10 years remaining on the current lease term with 4 (5-year) options to extend
Lease features 2% annual rental increases throughout the initial term and each option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Red Lobster is strategically located on St Charles Rock Road, with access to 23,742 vehicles passing by daily. Situated just across the street from DePaul Hospital, which serves 200,000 patients annually, it is conveniently located a half-mile off both I-270 (59,713 VPD) and I-70 (52,346 VPD). The surrounding area boasts well-known national retailers such as Lowe’s, Target, Walmart, Best Buy,...

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Key Features

Dense retail corridor
Near major nationals
Shopping Ctr out-parcel
Hospital close
Dense 100M+ pop 5 mi
Top 100 MSA
Absolute NNN
Long 10+ yr lease
Annual rent increases
Corporate Guarantee

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Links

Red Lobster Wikipedia Red Lobster Wikipedia Bridgeton, Missouri Zip Code 63044 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Red Lobster
Guarantor:Corporate
Company:Thai Union Group PCL
# Units:700
Stock:Private

About Tenant

Red Lobster is the largest seafood restaurant concept in the world and is an iconic full-service brand with broad demographic appeal. The company was founded in 1968 and today operates 700+...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,934	40,322	143,803
2023 Total Population :	5,043	40,688	144,315
2023 Employed Civilian Pop :	2,454	22,160	79,656
2023 Total Businesses :	547	2,548	7,435
2023 Average Household Income :	$ 103,067	$ 87,013	$ 87,134
2023 Total Consumer Spending :	$ 182 M	$ 1316 M	$ 4720 M
2023 Median Age :	50	42	40
2023 Total Households :	2,065	17,504	62,351
2023 Pop Age 25+: Bachelor's Degree :	908	6,746	24,061
2023 Average Home Value :	$ 282,306	$ 226,150	$ 234,683

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
McKelvey Rd	Saint Charles Rock Rd	2012	5,000	0.08 mi
McKelvey Rd	Bridgeton Sq	2012	19,450	0.12 mi
McKelvey Rd	Monter Dr	2013	17,332	0.14 mi
de Paul Dr	de Paul Ln	2019	25,686	0.19 mi
Saint Charles Rock Road	de Paul Ln	2022	10,648	0.19 mi
Saint Charles Rock Rd	Orchid Ln	2013	24,126	0.21 mi
McKelvey Road	Monter Dr	2022	9,204	0.21 mi
Saint Charles Rock Rd	St Charles Rock Rd	2013	24,860	0.28 mi
Natural Bridge Rd	Gallatin Ln	2010	4,342	0.31 mi
	de Paul Dr	2022	3,892	0.32 mi

Listing Broker

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