About This Restaurant
Investment Highlights
Long-Term, Absolute Triple Net (NNN) Lease Attractive Two Percent (2%) Annual Rental Increases Approximately 15 Years Remaining
Executive Summary
The NNN Pro Group is pleased to present the exclusive listing for the Red Lobster located at 2220 Nesconset Hwy, Stony Brook, NY 11790. The site will consist of roughly 6,883 rentable square feet of building space on an estimated 1.70-acre parcel of land. The Red Lobster is subject to an absolute triple-net (NNN) lease that commenced on 12/17/2015. The annual rent will be $343,768 in August 2024 and is scheduled to increase by 2.00% annually throughout the base term and continuing through 4, 5-Year Options.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant
- Building Size 6,883
- Building Class C
- Year Built 1976
- Price 5,500,288
- Price Per SF 799
- Cap Rate 6.25
- NOI 343,768
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.09
- Land Acres 1.70 AC
Amenities
- Signage
Nearby Amenities & Transportation
| Retail | Chase Bank | ||
| Retail | Planet Fitness | ||
| Retail | Friendly's Ice Cream Shop | ||
| Retail | Starbucks | ||
| Retail | Orangetheory Fitness | ||
| Retail | Anthony's Coal Fired Pizza | ||
| Retail | Bambu | ||
| Retail | Trader Joe's | ||
| Retail | Whole Foods Market | ||
| Retail | LA Fitness |
Property Taxes
| Parcel Number | 0200-439-00-03-00-001-000 | Improvements Assessment | $2,000 |
| Land Assessment | $10,500 | Total Assessment | $12,500 |
| Date Created: | 2024-07-16 04:18:01 | Last Updated: | 2024-07-16 04:18:01 |
| Address: | 2220 Nesconset Hwy , Stony Brook, New York, 11790 | ||