Red Lobster (GL)

20414 U.S. 59, Humble, TX 77338

$2,150,000

Cap Rate 6.05%

Views: 8 DOM: 391 Updated: 11.22.23 Posted: 11.15.22 Status: Active

Summary

Price $2,150,000	Built/Renov 2004	Tenant Red Lobster (GL)
Cap Rate 6.05%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 7,400	Lease Start 05-03-2004	#Units 700
Price/SF $290.54	Expiration 05-31-2024	Tenant Type Casual Dining
NOI $130,000	R. Term 0.5	Ownership Ground Lease
Rent/SF $17.57	Increases 0.0%/1/yrs	Pop 5Mi 145,823
Lot/AC 1.81	Options 2/5yrs	AHHI 5Mi $98,973

Lease Highlights

Red Lobster has been operating at this location since 2004
The tenant has less than 1 year remaining with 2 (5-year) options to extend
Lease features a $10,000 rental increase at the beginning of each option period
Triple net ground lease presents zero landlord responsibilities

Location Description

Located in Humble, TX, a suburb of Houston, this site is an outparcel PAD to Deerbrook Marketplace and is within a half-mile of Deerbrook Mall. Positioned on Eastex Freeway Road it is easily accessible from Interstate 69 (174,000+ VPD) as well as Farm to Market 1960 Bypass Road E (41,000+ VPD). The subject property comprises a large 1.81-acre lot and a 7,400SF building and is nearby many...

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Features

In location for years
Shopping Ctr out-parcel
Big Box center
Strategically located
Highway location
Strong demographics
Long operation history
Absolute NNN
Corporate Guarantee
Over 500 units backed

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Links

Red Lobster Wikipedia Red Lobster Wikipedia Humble, Texas Zip Code 77338 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Red Lobster
Guarantor:Corporate
Company:Thai Union Group PCL
# Units:700
Stock:Private

About Tenant

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+...

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Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Hwy 59 Hov		2013	136,517	0.06 mi
Birchridge	Glencreek Dr	2011	3,040	0.08 mi
Eastex Freeway	Eastex Fwy	2019	177,646	0.11 mi
Eastex Freeway	Eastex Fwy	2020	161,099	0.11 mi
Eastex Fwy	Cantertrot Dr	2001	4,630	0.13 mi
Fieldtree Dr	Glencreek Dr	2011	820	0.26 mi
Eastex Freeway		2018	172,149	0.44 mi
N Houston Ave	Meek Rd	2011	1,880	0.46 mi
	FM 1960 Bypass Rd W	2020	39,682	0.47 mi
F-M Rd 1960 Byp W	FM 1960 E	2013	31,365	0.47 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

108 Listings
985 Views
30 Sold

Jereme Snyder

Colliers NNN Group

Contact

100 Listings
913 Views
28 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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