Red Lobster
Traverse City, Michigan
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NNN Pro Group is pleased to present the exclusive offering for a Red Lobster located at 2691 N. US 31 South, in Traverse City, MI. The site consists of roughly 5,633 rentable square feet of building space on an estimated 2.30-acre parcel of land. This Red Lobster is subject to a long-term, absolute triple-net (NNN) lease, which commenced July 28, 2014. The current annual rent is $241,3151 and is scheduled to increase by 2.00% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.
About the Investment:
✓ Long-Term, Absolute Triple Net (NNN) Lease
✓ Over 20 Years Remaining on the Base Term
✓ Attractive Two Percent (2%) Annual Rental Increases
✓ Four (4), Five (5)-Year Tenant Renewal Options
✓ Red Lobster Corporate Guarantee (700+ Restaurants)
✓ Oversized 2.30 Acre Lot
Talk to the pros
Andrew Darby
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