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Red Lobster | Absolute Triple-Net (NNN) Lease

$3,822,752

1075 Fm 802, Brownsville, TX 78526

Active
Last Updated: 11/03/2022

5.85

Cap Rate

223,631

NOI

Details:
Cap Rate:    5.85%
NOI:    $223,631
Building Size:    8,127 sqft
Lot Area:    1.27 acres
Lease Type:    Absolute Net
Year Built:    2013
Highlights:
  • This Red Lobster is subject to a brand new 25-year absolute triple-net (NNN) lease, with 21.5 years remaining.
  • The lease is subject to a corporate guarantee, adding additional security throughout the term of the lease, through 704 corporate locations.
  • The rent will increase by two percent annually, including through the four, five-year tenant renewal options, providing investors with a strong inflation hedge.
  • Building Size 8,127 sq ft / Lot Size 1.27 acres
  • Brownsville is a Major Economic Hub in South Texas
Description:

Triple Net Investment Group is pleased to present an opportunity to purchase Red Lobster located at 1075 FM 802 in Brownsville, Texas. The property is 8,127 square feet and is situated on approximately1.27 acres of land.

This Red Lobster is subject to a 25-year triple-net (NNN) lease, with roughly 21.5 years remaining on the lease. July 2018 annual rent is $223,631 The rent is scheduled to increase by two percent annually, including through the four, five-year tenant renewal options.

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Documents:
Title
Offering Memorandum
Offering Memorandum
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