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 3000 Sisk Road in Modesto, California. The site consists of roughly 8,248 rentable square feet of building space on estimated 1.65-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 $506,577 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 8,248
- Building Class B
- Year Built 1982
- Price 8,237,024
- Price Per SF 999
- Cap Rate 6.15
- NOI 506,577
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.11
- Land Acres 1.65 AC
Nearby Amenities & Transportation
| Retail | Red Lobster | ||
| Retail | Texas Roadhouse | ||
| Retail | Smart & Final | ||
| Retail | Chase Bank | ||
| Retail | Chili's | ||
| Retail | Mimi's Cafe | ||
| Retail | Trader Joe's | ||
| Retail | Bank of America | ||
| Retail | Sizzler | ||
| Retail | Buffalo Wild Wings |
Property Taxes
| Parcel Number | 076-42-37 | Improvements Assessment | $1,107,814 |
| Land Assessment | $1,087,023 | Total Assessment | $2,194,837 |
| Date Created: | 2024-07-16 04:09:23 | Last Updated: | 2024-07-16 04:09:23 |
| Address: | 3000 Sisk Rd , Modesto, California, 95350 | ||