Price $6,348,000 | Built/Renov 2007 | Tenant Red Lobster |
Cap Rate 5.50% | Lease Type
Abs NNN | Guarantor Corporate |
Size/SF
7,303
| Lease Start
10-28-2015
| #Units
700
|
Price/SF $869.23 | Expiration
10-31-2044
| Tenant Type Casual Dining |
NOI $349,141 | R. Term 20.11 | Ownership Fee Simple |
Rent/SF
$47.81
| Increases 1.0%/1/yrs | Pop 5Mi 186,125 |
Lot/AC 1.29 | Options 4/5yrs/2% | AHHI 5Mi $86,529 |
| |
The subject property is a pad to a Lowe’s Home Improvement at the southwest corner of S. McCarran Blvd (39,100 VPD) and Kietzke Lane (25,700 VPD), with direct access and clear visibility from S. McCarran Blvd. It is within 1 block of the on/off ramps to Interstate 580 (132,000 VPD), the main north/south highway going through Reno. Red Lobster’s superior location in the primary retail corridor...
...In location for years
High traffic 50M+ VPD
Freeway close
Dense 100M+ pop 5 mi
Strong demographics
Major MSA
Income tax free state
Absolute NNN
Annual rent increases
Corporate Guarantee
Red Lobster is the largest seafood restaurant concept in the world and is an iconic full-service brand with broad demographic appeal. The company was founded in 1968 and today operates 700+...
1 Miles | 3 Miles | 5 Miles | |
2028 Total Population : | 12,125 | 81,436 | 194,463 |
2023 Total Population : | 11,543 | 79,389 | 188,470 |
2023 Employed Civilian Pop : | 5,920 | 40,548 | 92,364 |
2023 Total Businesses : | 1,341 | 5,530 | 11,683 |
2023 Average Household Income : | $ 97,005 | $ 99,105 | $ 101,458 |
2023 Total Consumer Spending : | $ 433 M | $ 3004 M | $ 7316 M |
2023 Median Age : | 37 | 39 | 39 |
2023 Total Households : | 5,086 | 34,633 | 82,658 |
2023 Pop Age 25+: Bachelor's Degree : | 1,602 | 12,331 | 29,800 |
2023 Average Home Value : | $ 557,233 | $ 572,064 | $ 585,130 |
Collection Street | Cross Street | Year | Traffic Vol | Distance |
S McCarran Blvd | Kietzke Ln | 2011 | 32,760 | 0.06 mi |
Kietzke Ln | S McCarran Blvd | 2011 | 15,860 | 0.12 mi |
Kietzke Ln | S McCarran Blvd | 2016 | 25,735 | 0.13 mi |
S McCarran Blvd | Talbot Ln | 2015 | 32,500 | 0.14 mi |
South McCarran Boulevard | Talbot Ln | 2021 | 28,400 | 0.18 mi |
Redfield Pkwy | Kietzke Ln | 2011 | 5,940 | 0.20 mi |
S McCarran Blvd | Hwy 395 | 2015 | 22,500 | 0.22 mi |
IR580 | S McCarran Blvd | 2021 | 5,700 | 0.23 mi |
Kietzke Ln | Redfield Pkwy | 2011 | 8,990 | 0.23 mi |
South McCarran Boulevard | I- 580 | 2021 | 24,400 | 0.24 mi |
Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]