Skip to Content

Red Lobster

Dothan, Alabama

Map View

Street View

NNN Pro Group is pleased to present the exclusive offering for a Red Lobster located at 3116 Montgomery Highway, in Dothan, AL. The site consists of roughly 5,858 rentable square feet of building space on an estimated 1.15-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 $175,834 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)

Key Details

Price:
$2,705,145
Cap Rate:
6.50%
Annual Rent:
$175,834
Address:
3116 Montgomery Highway, Dothan, Alabama 36303
Property Type:
Restaurant - Casual Dining
Lease Type:
Absolute Triple Net (NNN)

Lease Commencement:
July 28, 2014
Lease Expiration:
July 31, 2044
Lease Term Remaining:
+/- 20.5 Years
Rental Increases:
2.00% annually
Lot Size:
+/- 1.15 Acres
Building Size:
5,858 SF
Year Built:
1979
Tenant:
Red Lobster

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Matthew Anuszkiewicz

License: 10401294046

Robert Stein

License: 10401341647

Andrew Darby

Broker of record

Brian Brockman

Bang Realty-Alabama, Inc

License: 119315


Similar Properties

available

Red Lobster

5825 S. Padre Island Dr, Dothan, Alabama, 78412

available

Family Dollar

4269 US-11, Dothan, Alabama, 13630

available

Mavis Discount Tire

8811 HWY 69 S, Dothan, Alabama, 35405

available

Town Fair Tire

1239 US-302, Dothan, Alabama, 05641