Red Lobster - Net Lease Property for Sale
Westland, MI
Key Investment Metrics
Price
$4,200,000
Cap Rate
6.8%
Net Operating Income
$284,163
Building Size
7582 SF
Lot Size
7,582 SF
Remaining Term
13.6 years
Lease Expiration
07/31/2039
Lease Term
22.2 years
Lease Commencement
05/25/2017
Lease Type
Absolute NNN
Tenant Credit
Corporate Guarantee
Year Built
1974
Occupancy
100%
Tenancy
Single
Rent Increases
2% Annually
About This Red Lobster Net Lease Property
This Red Lobster NNN (triple net lease) property is located in Westland, MI and represents an excellent investment opportunity for commercial real estate investors. The property features 7582 square feet of building space and was built in 1974.
With a cap rate of 6.8%, this Red Lobster net lease property offers stable income potential. The asking price is $4,200,000, making it an attractive option for 1031 exchange investors seeking quality Red Lobster commercial properties.
Why Invest in Red Lobster NNN Properties?
- Stable Income: Red Lobster net lease properties provide predictable cash flow with minimal landlord responsibilities.
- Strong Tenant: Red Lobster is a nationally recognized brand with proven operational success.
- 1031 Exchange Eligible: This property qualifies for 1031 tax-deferred exchanges, allowing investors to defer capital gains taxes.
- Triple Net Lease: The tenant is responsible for property taxes, insurance, and maintenance, reducing landlord obligations.
Westland, MI Market Overview
Located in Westland, MI, this Red Lobster property benefits from strong local demographics and market fundamentals. The Westland area offers excellent visibility and accessibility, making it an ideal location for Red Lobster operations and a solid investment for net lease property buyers.