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 7607 Day Drive in Parma, Ohio. The site consists of roughly 7,491 rentable square feet of building space on an estimated 1.67-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 7,491
- Building Class B
- Year Built/Renovated 1975/1998
- Price 4,280,000
- Price Per SF 571
- Cap Rate 7
- NOI 299,621
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.10
- Land Acres 1.67 AC
Amenities
- Bus Line
- Pylon Sign
- Restaurant
- Signage
Nearby Amenities & Transportation
| Retail | Outback Steakhouse | ||
| Retail | Denny's | ||
| Retail | Starbucks | ||
| Retail | Giant Eagle | ||
| Retail | Planet Fitness | ||
| Retail | Olive Garden Italian Rstrnt | ||
| Retail | Fifth Third Bank | ||
| Retail | Steak ?n Shake | ||
| Retail | Panda Express | ||
| Retail | China Max |
Property Taxes
| Parcel Number | 449-25-017 | Improvements Assessment | $271,705 |
| Land Assessment | $59,325 | Total Assessment | $331,030 |
| Date Created: | 2024-07-16 04:18:05 | Last Updated: | 2024-07-16 04:18:05 |
| Address: | 7607 Day Dr , Parma, Ohio, 44129 | ||