Duncanville, TX - Red Lobster
$4,000,000
603 N. Cockrell Hill Rd, Duncanville, TX 75116
6.75
Cap Rate
270,000
NOI
Details:
Description:
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Red Lobster investment property located in Duncanville, Texas. The tenant, Red Lobster Restaurants LLC has approximately 13-years remaining on it’s initial term lease with 4 (5-year) options to extend. The lease features 2% annual rental increases beginning in July 2029 and continuing throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
The Red Lobster is strategically located along North Cockrell Hill Road, a primary commercial corridor serving the Duncanville trade area that carries approximately 21,800 vehicles per day. The site is situated right off Interstate 20, one of the Dallas-Fort Worth Metroplex’s major east-west transportation arteries, which carries more than 191,100 vehicles per day and provides exceptional regional accessibility and consumer exposure. Additionally, the asset is located a few miles west of Wheatland Towne Crossing, a 361,000 square foot power center, which is anchored by Target, Ross Dress for Less, EOS Fitness, and more. Furthermore, the property is positioned within one of the area’s dominant retail corridors and benefits from immediate proximity to major national retailers including Walmart Supercenter, Sam’s Club, Lowe’s, The Home Depot, PetSmart, Burlington, Five Below, Office Depot, and numerous restaurant operators. Moreover, the Red Lobster is surrounded by a dense concentration of national and regional retailers, service providers, and hospitality uses that generate consistent daily consumer traffic. Located approximately 12 miles southwest of Downtown Dallas, the site also benefits from access to one of the nation’s largest metropolitan economies. The 5-mile trade area is supported by a population of over 237,100 residents with an average household income of $85,079.
Location
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