Red Lobster

Wauwatosa, Wisconsin

NNN Pro Group is pleased to present the exclusive listing for a Red Lobster located at 2801 North Mayfair Road, Wauwatosa, WI. The site consists of roughly 7,650 rentable square feet of building space on an estimated 1.70-acre parcel of land. This Red Lobster is subject to a 20-year absolute triple-net (NNN) lease, which commenced July 1st, 2019. The current annual rent is $386,160 and is scheduled to increase by 2.00% annually throughout the base term and in each of the 4, 5-year renewal options.

✓ Corporate Guaranty | Approximately 700 locations in North America
✓ Two Percent (2%) Rental Increases Annually
✓ Long-Term, Absolute Triple Net (NNN) Lease
✓ Approximately 15.5 Years of Lease Term Remaining
✓ Four (4), Five (5)-Year Tenant Renewal Options

Key Details

Price:: $5,432,869
Cap Rate:: 7.25%
Annual Rent:: $393,883
Address:: 2801 North Mayfair Road, Wauwatosa, Wisconsin 53222
Property Type:: Net-Leased
Lease Type:: Triple Net (NNN)

Original Lease Term:: 20 Years
Lease Commencement:: July 1, 2019
Lease Expiration:: July 31, 2039
Lease Term Remaining:: 15+ Years
Rental Increases:: 2.00% Annually
Lot Size:: 1.70 Acres
Building Size:: 7,650 SF
Year Built:: 1975
Year Renovated:: 2022
Tenant:: Red Lobster

Talk to the pros

Glen Kunofsky

gkunofsky@nnnpro.com

License: 49KU1129178

Daniel Price

dprice@nnnpro.com

License: 10401306175

Rocco Driscoll

rdriscoll@nnnpro.com

License: 10401370484

Broker of record

Brian Brockman

Bang Realty-Wisconsin, Inc.

License: 58914-90

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