Price $4,692,000 | Built/Renov 1975 | Tenant Red Lobster |
Cap Rate 6.50% | Lease Type
Abs NNN | Guarantor Corporate |
Size/SF
7,641
| Lease Start
09-01-2023
| #Units
700
|
Price/SF $614.06 | Expiration
02-28-2045
| Tenant Type Casual Dining |
NOI $305,009 | R. Term 21.2 | Ownership Fee Simple |
Rent/SF
$39.92
| Increases 2.0%/1/yrs | Pop 5Mi 156,071 |
Lot/AC 2.03 | Options 4/5yrs/2% | AHHI 5Mi $90,549 |
| |
This 7,641 square foot Red Lobster is situated on a 2.03 acre parcel along Springdale Road with access to 16,700 vehicles per day. The site benefits from nearby direct on/off ramp access to I275, a major thoroughfare averaging over 69,000 vehicles per day. The subject property is ideally situated within close proximity to Northgate Mall, a 881,000 SF regional mall anchored by Marshalls, Ulta...
...Oversized lot
Major thoroughfare
Strategically located
Highway close
Top 100 MSA
Strong demographics
Brand new lease
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 : | 11,487 | 58,302 | 153,992 |
2023 Total Population : | 11,656 | 59,448 | 155,893 |
2023 Employed Civilian Pop : | 6,095 | 30,416 | 78,485 |
2023 Total Businesses : | 435 | 1,434 | 3,539 |
2023 Average Household Income : | $ 79,627 | $ 85,192 | $ 87,978 |
2023 Total Consumer Spending : | $ 326 M | $ 1744 M | $ 4806 M |
2023 Median Age : | 40 | 40 | 41 |
2023 Total Households : | 4,697 | 23,628 | 63,050 |
2023 Pop Age 25+: Bachelor's Degree : | 1,380 | 8,250 | 23,256 |
2023 Average Home Value : | $ 190,032 | $ 212,729 | $ 218,769 |
Collection Street | Cross Street | Year | Traffic Vol | Distance |
Springdale Rd | Niagara St | 2007 | 16,665 | 0.05 mi |
Colerain Ave | Yellowstone Dr | 2013 | 32,875 | 0.09 mi |
Niagara St | Springdale Rd | 2007 | 1,218 | 0.15 mi |
Niagara St | Colleen Dr | 2007 | 3,145 | 0.16 mi |
Colerain Ave | Springdale Rd | 2013 | 29,380 | 0.20 mi |
Springdale Rd | Colerain Ave | 2007 | 13,810 | 0.22 mi |
SPRINGDALE RD | Loralinda Dr | 2020 | 14,262 | 0.27 mi |
Springdale Road | Loralinda Dr | 2019 | 15,811 | 0.27 mi |
Colerain Ave | Redskin Dr | 2013 | 42,749 | 0.27 mi |
Colerain Avenue | Regency Ct | 2021 | 35,965 | 0.34 mi |
Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]