About This Restaurant
Investment Highlights
Long-Term, Absolute Triple Net (NNN) Lease | Over 15 Years Remaining Corporate Guaranty | Over 640 locations in North America World?s Largest Seafood Restaurant | Serving Customers in 11 Countries
Executive Summary
NNN Pro Group is pleased to present the Red Lobster located at 4231 196th Street SW in Lynnwood, WA. The site consists of roughly 9,382 rentable square feet of building space on an estimated 1.69-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
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant
- Building Size 9,382
- Building Class B
- Year Built 1990
- Price 7,935,000
- Price Per SF 846
- Cap Rate 6.75
- NOI 535,738
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.13
- Land Acres 1.69 AC
Nearby Amenities & Transportation
| Retail | KeyBank | ||
| Retail | IHOP | ||
| Retail | TacoTime | ||
| Retail | Olive Garden Italian Rstrnt | ||
| Retail | Jack In The Box | ||
| Retail | Red Lobster | ||
| Retail | Ezell's Famous Chicken | ||
| Retail | Denny's | ||
| Retail | Starbucks | ||
| Retail | Anytime Fitness |
Property Taxes
| Parcel Number | 003726-005-009-03 | Improvements Assessment | $3,416,700 |
| Land Assessment | $681,300 | Total Assessment | $4,098,000 |
| Date Created: | 2024-07-16 04:23:49 | Last Updated: | 2024-07-16 04:23:49 |
| Address: | 4231 196th St SW , Lynnwood, Washington, 98036 | ||