Victorville, CA - Red Lobster

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 Victorville, California. The tenant currently has 15 years remaining on their initial lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual increases throughout the initial term and options thereafter, 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. Red Lobster is the world’s largest and most-loved seafood restaurant company, with over 500+ locations across the U.S.

The subject property is located along Amargosa Rd which averages 17,700 VPD. The asset benefits from being located off of Interstate 15, a major thoroughfare that averages 115,000 vehicles passing by daily. The site is an out-parcel to the Mall of Victor Valley, a 577,000+ SF regional mall, that is anchored by Macy’s, Dick’s, Barnes and Noble, and more. Other nearby national/credit tenants include Home Depot, Lowe’s, Walmart Super-center, Hobby Lobby, Kohl’s, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 201,000 and 46,000 employees, providing a direct consumer base from which to draw. Residents within 1-mile of the subject property have an affluent average household income of $103,129.

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Listing ID: a28TP000003LcmvYAC