Red Lobster

Citrus Heights, California

NNN Pro Group is pleased to present the exclusive listing for a Red Lobster located at 6231 Sunrise Boulevard in Citrus Heights, California. The site consists of roughly 8,658 rentable square feet of building space on estimated 0.92-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced October 28th, 2015. The current annual rent is $473,156 and is scheduled to increase by 2% annually throughout the base term and in each of the 4, 5-year renewal options.

✓ Long-Term, Absolute Triple-Net (NNN) Lease with Over 16 Years Remaining on the Base Term
✓ Corporate Tenant | Corporate Guaranty
✓ Attractive Rental Increases of Two Percent (2.00%) Annually
✓ Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 46 Years

Key Details

Price:: $7,570,496
Cap Rate:: 6.25%
Annual Rent:: $473,156
Address:: 6231 Sunrise Blvd, Citrus Heights, California 95610
Property Type:: Net Leased Restaurant
Lease Type:: Triple Net (NNN)

Original Lease Term:: 25 Years
Lease Commencement:: October 28th, 2015
Lease Expiration:: July 31st, 2040
Lease Term Remaining:: +/- 16 Years
Rental Increases:: 2.00% Annually
Lot Size:: .92 Acres
Building Size:: 8,658 SF
Year Built:: 1982
Tenant:: Red Lobster

Talk to the pros

Glen Kunofsky

gkunofsky@nnnpro.com

License: 49KU1129178

Russell Wachtler

rwachtler@nnnpro.com

License: 10401294048

Adam Friedlander

afriedlander@nnnpro.com

License: 10301213841

Edward DeMatteis

edematteis@nnnpro.com

Broker of record

Brian Brockman

Bang Realty-California, Inc

License: 2154562

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