Red Lobster
Modesto, CA
Key Details
| Price: | $8,237,024 |
|---|---|
| Cap Rate: | 6.15% |
| Annual Rent: | $506,577 |
| Address: | 3000 Sisk Road, Modesto, California 95350 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 24 Years |
|---|---|
| Lease Commencement: | 10/28/2015 |
| Lease Expiration: | 7/31/2040 |
| Lease Term Remaining: | 15.9 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 1.65 Acres |
| Building Size: | 8,248 SF |
| Year Built: | 1982 |
NNN Pro is pleased to present the exclusive listing for a Red Lobster located at 3000 Sisk Road, Modesto, California 95350. The site consists of roughly 8248 rentable square feet of building space on an estimated 1.65-acre parcel of land. This Red Lobster is subject to a 24-year Triple Net (NNN) lease, which commenced 10/28/2015. The current annual rent is $506,577 and has scheduled increases of 2.00% Annually.
About the Investment
- Long-Term, Absolute Triple-Net (NNN) Lease with Over 16 Years Remaining on the Base Term
- Corporate Tenant | Corporate Guaranty
- Attractive Rental Increases of Two Percent (2.00%) Annually
Key Details
| Price: | $8,237,024 |
|---|---|
| Cap Rate: | 6.15% |
| Annual Rent: | $506,577 |
| Address: | 3000 Sisk Road, Modesto, California 95350 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 24 Years |
|---|---|
| Lease Commencement: | 10/28/2015 |
| Lease Expiration: | 7/31/2040 |
| Lease Term Remaining: | 15.9 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 1.65 Acres |
| Building Size: | 8,248 SF |
| Year Built: | 1982 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Russell Wachtler
rwachtler@nnnpro.com
License: NY: 10401294048
Adam Friedlander
afriedlander@nnnpro.com
License: NY: 10301213841
Edward DeMatteis
edematteis@nnnpro.com
License: NY: 10401375705
Broker of Record
Brian Brockman
Bang Realty-California, Inc
License: 2154562
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.