The NNN Pro Group is pleased to present the exclusive listing for the Red Lobster located at 5825 S. Padre Island Dr, Corpus Christi, TX 78412. The site will consist of roughly 8,224 rentable square feet of building space on an estimated 1.61-acre parcel of land. The Red Lobster is subject to an absolute triple-net (NNN) lease that commenced on 7/27/2016. The annual rent will be $473,799 in August 2024.
✓ Long-Term, Absolute Triple Net (NNN) Lease
✓ Over 20 Years Remaining on the Base Term
✓ Attractive Two Percent (2%) Annual Rental Increases Starting in August 2026
✓ Four (4), Five (5)-Year Tenant Renewal Options
✓ Red Lobster Corporate Guarantee (700+ Restaurants)
