Red Lobster 20 Towne Center Cir

Investment Highlights

Long-Term, Absolute Triple Net (NNN) Lease, Zero Landlord Obligations Four (4), Five (5)-Year Tenant Renewal Options 15.5 Years Of Lease Term Remaining With 2.00% Annual Bumps

Executive Summary

NNN Pro Group is pleased to present the exclusive listing for a Red Lobster located at 20 Towne Center Circle in Sanford, FL. The site consists of roughly 8,495 rentable square feet of building space on an estimated 2.57-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced July 28th, 2014. The current annual rent is $385,142 and is scheduled to increase by 2.00% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Restaurant
• Building Size    8,568
• Building Class    B
• Year Built    2007
• Price    5,612,071
• Price Per SF    655
• Cap Rate    7
• NOI    392,845
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.08
• Land Acres    2.57 AC

• Bus Line
• Pylon Sign
• Signage