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


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...



  • 1 Mile
  • 3 Miles
  • 5 Miles


  • 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+...



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

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