Red Lobster
9,200 SF | Retail Building | Sacramento, CA 95825 | $8,377,463 ($911/SF) | 6.15% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $8,377,463
- Property Type
-
Retail, Restaurant
- Square Feet
- 9,200 SF
- Price / Square Foot
- $911
Listing Contacts
Glen Kunofsky
Verified Profile
Adam Friedlander
Verified Profile
Russell Wachtler
Verified Profile
Edward DeMatteis
Verified Profile
- Property Info
Property Overview
NNN Pro Group is pleased to present the exclusive listing for a Red Lobster located at 1400 Howe Avenue in Sacramento, California. The site consists of roughly 9,200 rentable square feet of building space on estimated 1.64-acre parcel of land. This Red Lobster is subject to a 20-year absolute triple-net (NNN) lease, which commenced October 28th, 2015. The current annual rent is $515,214 and is scheduled to increase by 2% annually throughout the base term and in each of the 4, 5-year renewal options.
Property Details
- Class
- B
- Year Built
- 1993
- Stories
- 1
- Lot Size (sq. ft)
- 71,438 SF
Highlights
- Long-Term, Absolute Triple-Net (NNN) Lease with Over 17 Years Remaining on the Base Term
- Corporate Tenant | Corporate Guaranty
- Attractive Rental Increases of Two Percent (2.00%) Annually
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