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Red Lobster

Macon, Georgia

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NNN Pro Group is pleased to present the exclusive listing for a Red Lobster located at 1725 Rainbow Drive in Gadsden, AL. The site consists of roughly 9,638 rentable square feet of building space on estimated 1.48-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced December 17th, 2015. The current annual rent is scheduled to increase by 2% annually throughout the base term and in each of the 4, 5-year renewal options.

About the Investment:

✓ Long-Term 25-Year Absolute Triple Net (NNN) Lease, Zero Landlord Obligations
✓ +/- 19 Years Of Lease Term Remaining With 2.00% Annual Bumps
✓ Four (4), Five (5)-Year Tenant Renewal Options
✓ Corporate Tenant | Corporate Guarantee

Key Details

Price:
$4,685,864
Cap Rate:
6.25%
Annual Rent:
$292,866
Address:
2077 Riverside Drive, Macon, Georgia 31204
Property Type:
Net Leased Restaurant
Lease Type:
Absolute Triple Net (NNN)

Original Lease Term:
25 Years
Lease Commencement:
December 17th, 2015
Lease Expiration:
July 31st, 2042
Lease Term Remaining:
+/- 19 Years
Rental Increases:
2% Annually
Lot Size:
1.48 Acres
Building Size:
9,638 SF
Year Built:
2004
Tenant:
Red Lobster

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Russell Wachtler

License: 10401294048

Edward DeMatteis

Broker of record

Brian Brockman

Bang Realty-Georgia, Inc

License: 378952


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