About This Restaurant
Investment Highlights
Long Term Triple Net (NNN) Lease | Over 15 Years Remaining World?s Largest Seafood Restaurant | Serving Customers in 11 Countries Two Percent (2.00%) Rental Increases Annually | Strong Hedge Against Inflation
Executive Summary
NNN Pro is pleased to present the exclusive listing for a Red Lobster locatedat 525 Galleria Drive, Johnston, PA 15904. The site consists of roughly 8,432rentable square feet of building space on an estimated 2.57-acre parcel ofland. This Red Lobster is subject to a 25-year Triple Net (NNN) lease, whichcommenced 7/28/2014. The current annual rent is $298,202 and hasscheduled increases of 2.00% Annually.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant
- Building Size 8,500
- Building Class C
- Year Built/Renovated 1993/2012
- Price 4,260,029
- Price Per SF 501
- Cap Rate 7
- NOI 298,202
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.08
- Land Acres 2.57 AC
Property Taxes
| Parcel Number | 050-116083 | Improvements Assessment | $305,140 |
| Land Assessment | $280,960 | Total Assessment | $586,100 |
| Date Created: | 2024-07-16 04:18:11 | Last Updated: | 2024-07-16 04:18:11 |
| Address: | 525 Galleria Dr , Johnstown, Pennsylvania, 15904 | ||