About This Restaurant
Investment Highlights
Long-Term, Absolute Triple Net (NNN) Lease Attractive Two Percent (2%) Annual Rental Increases Starting in August 2026 Over 20 Years Remaining on the Base Term
Executive Summary
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.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant
- Building Size 9,600
- Building Class C
- Year Built 1972
- Price 4,900,815
- Price Per SF 511
- Cap Rate 6.50
- NOI 318,553
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.12
- Land Acres 1.88 AC
Nearby Amenities & Transportation
| Retail | Chicken Salad Chick | ||
| Retail | Scooter's Coffee | ||
| Retail | Trader Joe's | ||
| Retail | Red Lobster | ||
| Retail | Hooters | ||
| Retail | First Horizon Bank | ||
| Retail | LongHorn Steakhouse | ||
| Retail | Starbucks | ||
| Retail | Cajun Cafe | ||
| Retail | Regions Bank |
Property Taxes
| Parcel Number | 120JA-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,072,880 |
| Date Created: | 2024-07-16 04:23:38 | Last Updated: | 2024-07-16 04:23:38 |
| Address: | 8040 Kingston Pike , Knoxville, Tennessee, 37919 | ||