About This Restaurant
Investment Highlights
Long-Term, Absolute Triple-Net (NNN) Lease with Over 17 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 1400 Howe Avenue in Sacramento, California. The site consists of roughly 9,200 rentable square feet of building space on estimated 1.64-acre parcel of land. This Red Lobster is subject to a 20-year absolute triple-net (NNN) lease, which commenced October 28th, 2015. The current annual rent is $515,214 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 9,200
- Building Class B
- Year Built 1993
- Price 8,377,463
- Price Per SF 911
- Cap Rate 6.15
- NOI 515,214
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.13
- Land Acres 1.64 AC
Amenities
- Pylon Sign
- Signage
Nearby Amenities & Transportation
| Retail | Crunch | ||
| Retail | Sourdough & Co. | ||
| Retail | Dutch Bros | ||
| Retail | Buca Di Beppo | ||
| Retail | Denny's | ||
| Retail | Outback Steakhouse | ||
| Retail | Panda Express | ||
| Retail | The Habit Burger Grill | ||
| Retail | Jack In The Box | ||
| Retail | Round Table Pizza |
Property Taxes
| Parcel Number | 285-0101-015 | Improvements Assessment | $1,635,000 |
| Land Assessment | $3,022,000 | Total Assessment | $4,657,000 |
| Date Created: | 2024-07-16 04:09:25 | Last Updated: | 2024-07-16 04:09:25 |
| Address: | 1400 Howe Ave , Sacramento, California, 95825 | ||