About This Restaurant
Investment Highlights
Long-Term, Absolute Triple Net (NNN) Lease | Over 15 Years Remaining World?s Largest Seafood Restaurant | Serving Customers in 11 Countries Southlake Mall Located Across Mississippi St | One of Indiana?s Largest Shopping Malls With Over 160 Specialty Shops
Executive Summary
NNN Pro Group is pleased to present the Red Lobster located at 1450 E 82nd Ave in Merrillville Indiana. The site consists of roughly 7,942 rentable square feet of building space on an estimated 2.09-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 7,942
- Building Class B
- Year Built 1979
- Price 6,300,000
- Price Per SF 793
- Cap Rate 7
- NOI 440,730
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.09
- Land Acres 2.09 AC
Nearby Amenities & Transportation
| Retail | Bob Evans Restaurants | ||
| Retail | Outback Steakhouse | ||
| Retail | Red Lobster | ||
| Retail | D1 Sports Training | ||
| Retail | Olive Garden | ||
| Retail | Mission BBQ | ||
| Retail | Chase Bank | ||
| Retail | Cooper's Hawk Winery & Restaurant | ||
| Retail | Schoop's Hamburgers | ||
| Retail | Maki Of Japan |
Property Taxes
| Parcel Number | 45-12-22-426-006.000-030 | Improvements Assessment | $1,484,300 |
| Land Assessment | $317,100 | Total Assessment | $1,801,400 |
| Date Created: | 2024-07-16 04:13:40 | Last Updated: | 2024-07-16 04:13:40 |
| Address: | 1450 E 82nd Ave , Merrillville, Indiana, 46410 | ||