Investment Highlights
Long-Term 20 Year Lease | Recent Extension | Corporate Signed | Options To Extend | Annual Rental Increases
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities | Completely Passive Investment
Reno-Sparks Convention Center | Reno-Tahoe International Airport (4.7M passengers per year) | Atlantis Casino Resort Spa
Pad to Lowe?s Home Improvement | Excellent Visibility & Access | Nearby Interstate 580 (132,000 VP)
Major Retail Corridor | Strong National/Credit Tenant Synergy | Meadowood Mall (442,000 SF) | Firecreek Crossing (347,000 SF)
Growing Market | Strong Demographics in 5-Mile Trade Area
Executive Summary
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate signed, Red Lobster investment property located in Reno, Nevada. The tenant, Red Lobster Hospitality LLC, has 20 years remaining on their current lease term with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features an annual rental increase of 1% through August 2027 at which point it increases to 2% for the remainder of the term, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.
