About This Restaurant
Investment Highlights
Long-Term, Absolute Triple-Net (NNN) Lease with Over 16 Years Remaining on the Base Term Attractive Rental Increases of Two Percent (2.00%) Annually Corporate Tenant | Corporate Guaranty
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for a Red Lobster located at 6231 Sunrise Boulevard in Citrus Heights, California. The site consists of roughly 8,658 rentable square feet of building space on estimated 0.92-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced October 28th, 2015. The current annual rent is $473,156 and is scheduled to increase by 2% annually throughout the base term and in each of the 4, 5-year renewal options.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant
- Building Size 8,658
- Building Class C
- Year Built 1982
- Price 7,570,496
- Price Per SF 874
- Cap Rate 6.25
- NOI 473,156
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.22
- Land Acres 0.92 AC
Amenities
- Bus Line
- Pylon Sign
Nearby Amenities & Transportation
| Retail | Black Angus Steakhouse | ||
| Retail | 9Round | ||
| Retail | Red Lobster | ||
| Retail | Round Table Pizza | ||
| Retail | Sprouts Farmers Market | ||
| Retail | Wingstop | ||
| Retail | Buffalo Wild Wings | ||
| Retail | Texas Roadhouse | ||
| Retail | U.S. Bank | ||
| Retail | Red Robin |
Property Taxes
| Parcel Number | 243-0060-043 | Improvements Assessment | $1,365,392 |
| Land Assessment | $5,461,579 | Total Assessment | $6,826,971 |
| Date Created: | 2024-07-16 04:09:23 | Last Updated: | 2024-07-16 04:09:23 |
| Address: | 6231 Sunrise Blvd , Citrus Heights, California, 95610 | ||