Red Lobster
8,336 SF | Retail Building | Merritt Island, FL 32952 | $4,900,000 ($588/SF) | 6.50% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $4,900,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 8,336 SF
- Price / Square Foot
- $588
Listing Contacts
Glen Kunofsky
Verified Profile
Josh Kanter
Verified Profile
Ilan Bley
Verified Profile
- Property Info
Property Overview
NNN Pro Group is pleased to present the Red Lobster located 215 E Merritt Island Causeway in Merritt Island, FL. The site consists of roughly 8,336 rentable square feet of building space on an estimated 1.84-acre parcel of land. This property is subject to an absolute triple net (NNN), which expires on July 31, 2039. The rent is scheduled to increase by 2% annually every and in each of the option periods.
Property Details
- Class
- C
- Year Built/Renovated
- 1973/2012
- Stories
- 1
- Lot Size (sq. ft)
- 80,150 SF
Highlights
- Long-Term, Absolute Triple Net (NNN) Lease | Over 15 Years Remaining
- World’s Largest Seafood Restaurant | Serving Customers in 11 Countries
- Corporate Guaranty | Over 640 locations in North America
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].