Red Lobster

Macon, Georgia

NNN Pro Group is pleased to present the exclusive listing for a Red Lobster located at 1725 Rainbow Drive in Gadsden, AL. The site consists of roughly 9,638 rentable square feet of building space on estimated 1.48-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced December 17th, 2015. The current annual rent is scheduled to increase by 2% annually throughout the base term and in each of the 4, 5-year renewal options.

About the Investment:

✓ Long-Term 25-Year Absolute Triple Net (NNN) Lease, Zero Landlord Obligations
✓ +/- 19 Years Of Lease Term Remaining With 2.00% Annual Bumps
✓ Four (4), Five (5)-Year Tenant Renewal Options
✓ Corporate Tenant | Corporate Guarantee

Key Details

Price:: $4,685,864
Cap Rate:: 6.25%
Annual Rent:: $292,866
Address:: 2077 Riverside Drive, Macon, Georgia 31204
Property Type:: Net Leased Restaurant
Lease Type:: Absolute Triple Net (NNN)

Original Lease Term:: 25 Years
Lease Commencement:: December 17th, 2015
Lease Expiration:: July 31st, 2042
Lease Term Remaining:: +/- 19 Years
Rental Increases:: 2% Annually
Lot Size:: 1.48 Acres
Building Size:: 9,638 SF
Year Built:: 2004
Tenant:: Red Lobster

Talk to the pros

Glen Kunofsky

gkunofsky@nnnpro.com

License: 49KU1129178

Russell Wachtler

rwachtler@nnnpro.com

License: 10401294048

Edward DeMatteis

edematteis@nnnpro.com

Broker of record

Brian Brockman

Bang Realty-Georgia, Inc

License: 378952

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