loader
Join Free
Views: 102 Updated: 09.10.24 Posted: 12.08.23 Status: Inactive

Summary

Price $3,994,000
Built/Renov 1997/2012
Tenant Red Lobster
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,120
Lease Start 08-01-2018
#Units 700
Price/SF $780.08
Expiration 07-31-2044
Tenant Type Casual Dining
NOI $279,587
R. Term 19.8
Ownership Fee Simple
Rent/SF $54.61
Increases 2.0%/1/yrs
Pop 5Mi 65,958
Lot/AC 1.00
Options 3/5yrs/2%
AHHI 5Mi $87,529

Lease Highlights

  • Red Lobster has 20+ years remaining on the current lease term with 3 (5-year) options to extend
  • Lease features 2% annual rent increases throughout the initial term and in each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Red Lobster is strategically located at the signalized, hard corner intersection of W Eisenhower Dr and the western entrance to the Walmart Supercenter and Giant-anchored Hanover Crossing Shopping Center, with access to 15,480 vehicles passing by daily. W. Eisenhower Dr serves as the primary retail corridor in the area and is home to numerous national retailers, including Lowe’s, Home Depot,...

...

Maps

  • 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+...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,230 39,599 66,625
2023 Total Population : 5,110 39,250 65,861
2023 Employed Civilian Pop : 2,441 20,367 33,998
2023 Total Businesses : 466 1,647 2,344
2023 Average Household Income : $ 100,054 $ 83,504 $ 91,063
2023 Total Consumer Spending : $ 203 M $ 1187 M $ 2093 M
2023 Median Age : 52 42 43
2023 Total Households : 2,348 16,433 26,660
2023 Pop Age 25+: Bachelor's Degree : 609 3,846 7,330
2023 Average Home Value : $ 263,355 $ 241,354 $ 262,169
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Eisenhower Dr Wilson Ave 2016 9,610 0.20 mi
Broadway Grant Dr 2021 11,177 0.54 mi
Moulstown Rd Moul Ave 2017 8,275 0.55 mi
Grant Dr Deguy Ave 2016 6,111 0.57 mi
Eichelberger Street Kennedy Ct 2019 2,530 0.64 mi
Eichelberger St Kennedy Ct 2016 2,520 0.66 mi
Eisenhower Drive Chapelwood Dr 2022 8,581 0.67 mi
Abbottstown Pike Hickory Ln 2017 11,176 0.74 mi
Eisenhower Drive Eichelberger St 2019 13,718 0.80 mi
Radio Road Carlisle St 2022 7,889 0.87 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity