Red Lobster

Knoxville, Tennessee

The NNN Pro Group is pleased to present the exclusive listing for the Red Lobster located at 8040 Kingston Pike, Knoxville, TN 37919. The site will consist of roughly 9,600 rentable square feet of building space on an estimated 1.88-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 $318,553 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)

Key Details

Price:: $4,900,815
Cap Rate:: 6.50%
Annual Rent:: $318,553
Address:: 8040 Kingston Pike, Knoxville, Tennessee 37919
Property Type:: Retail
Lease Type:: Triple Net (NNN)

Lease Commencement:: July 27, 2016
Lease Expiration:: January 31, 2047
Lease Term Remaining:: 23.0 Years
Rental Increases:: Varies – See Rent Schedule
Lot Size:: 1.88 Acres
Building Size:: 9,600 SF
Year Built:: 1972
Tenant:: Red Lobster

Talk to the pros

Glen Kunofsky

gkunofsky@nnnpro.com

License: 49KU1129178

Matthew Anuszkiewicz

manuszkiewicz@nnnpro.com

License: 10401294046

Robert Stein

rstein@nnnpro.com

License: 10401341647

Andrew Darby

adarby@nnnpro.com

Broker of record

Brian Brockman

Bang Realty-Tennessee, Inc

License: 343847

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