Sold Subscription Required
| Price $2,882,997 $3,123,246 | Built/Renov 1991 | Tenant Red Lobster |
| Cap Rate 6.50% 6.00% | Lease Type
Abs NNN | Guarantor Corporate |
| Size/SF
6,015
| Lease Start
08-01-2019
| #Units
670
|
| Price/SF $479.30 $519.24 | Expiration
07-31-2039
| Tenant Type Casual Dining |
| NOI $187,394 | R. Term 14.7 | Ownership Fee Simple |
| Rent/SF
$31.15
| Increases 2.0%/1/yrs | Pop 5Mi 49,730 |
| Lot/AC 1.57 | Options 4/5yrs/2% | AHHI 5Mi $92,312 |
| | |
Red Lobster is strategically along Tiffin Avenue which sees 19,139 vehicles per day. The site is located in a Walmart Supercenter anchored property in a strong retail hub. Other nearby major national tenants include Kohl’s, ALDI, Meijer, Lowe’s, Dollar General, Hobby Lobby, Planet Fitness, Walgreen’s, Menards, TJ Maxx, Tractor Supply Co, Pet Smart, Kroger and many more. The 5-mile trade area...
...In location for years
Major thoroughfare
Dense retail corridor
WalMart out-parcel
Highway location
Affluent suburb location
Long 15+ yr lease
Absolute NNN
Annual rent increases
Corporate Guarantee
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+...
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 5,982 | 25,686 | 49,732 |
| 2023 Total Population : | 6,059 | 25,749 | 49,819 |
| 2023 Employed Civilian Pop : | 2,706 | 12,691 | 25,058 |
| 2023 Total Businesses : | 339 | 1,126 | 2,160 |
| 2023 Average Household Income : | $ 115,676 | $ 97,928 | $ 98,126 |
| 2023 Total Consumer Spending : | $ 301 M | $ 982 M | $ 1840 M |
| 2023 Median Age : | 51 | 40 | 39 |
| 2023 Total Households : | 3,032 | 11,570 | 21,652 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,279 | 3,847 | 7,433 |
| 2023 Average Home Value : | $ 312,448 | $ 238,963 | $ 234,536 |
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Tiffin Ave | Spruce Dr | 2004 | 22,060 | 0.35 mi |
| County Road 236 | Birchwood Ln | 2021 | 9,685 | 0.53 mi |
| Fox Run Road | Quail Lake Rd | 2021 | 583 | 0.61 mi |
| Manor Hill Road | Hillstone Dr | 2021 | 7,084 | 0.64 mi |
| Bright Road | Shore Blvd | 2021 | 11,088 | 0.68 mi |
| County Road 236 | Foxtail Dr | 2021 | 7,470 | 0.70 mi |
| Greendale Avenue | Bright Rd | 2021 | 2,455 | 0.73 mi |
| Bright Road | Rush Creek Ct | 2021 | 11,759 | 0.95 mi |
| Tr 237 | Lakeview Pkwy | 2021 | 2,891 | 1.12 mi |
| FOSTORIA AVE | Bright Rd | 2020 | 8,337 | 1.12 mi |
Canton, MI
Cap Rate 7.00%
Lease Abs NNN
R. Term 7.50 yrs
Size/SF 6,511
Broken Arrow, OK
Cap Rate 6.75%
Lease Double NN
R. Term 6.80 yrs
Size/SF 4,606
Crestview, FL
Cap Rate 5.25%
Lease Abs NNN
R. Term 14.70 yrs
Size/SF 7,831
Beaumont, TX
Cap Rate 6.00%
Lease Abs NNN
R. Term 12.40 yrs
Size/SF 6,167
Winter Garden, FL
Cap Rate 6.00%
Lease Abs NNN
R. Term 7.80 yrs
Size/SF 7,234
Atlanta, GA
Cap Rate 5.25%
Lease Double NN
R. Term 9.40 yrs
Size/SF 3,850
Louisville, KY
Cap Rate 5.00%
Lease NN+
R. Term 15.10 yrs
Size/SF 7,575
Cincinnati, OH
Cap Rate 5.42%
Lease NN+
R. Term 15.50 yrs
Size/SF 4,936
Oviedo, FL
Cap Rate 5.25%
Lease Abs NNN
R. Term 9.10 yrs
Size/SF 5,710
Valley Village, CA
Cap Rate 5.35%
Lease NN+
R. Term 8.40 yrs
Size/SF 6,490
Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]
