With over 21 years remaining on an absolute NNN lease and established tenancy with over 30 years of operating history, this property presents a strong core investment opportunity. With a 2022 NOI of $344,018.00, this absolute NNN lease is located in a very high traffic area that has AADT per Florida DOT of 45,500 and within a 3 mile radius of more than 16,000 households with an average income of $57,000 and several new developments yet to come. Founded by Bill Darden in 1968, Red Lobster is an American casual dining restaurant chain headquartered in Orlando, Florida. It has operations in 44 U.S. States and over 700 locations around the world.
| Property Type | Retail |
|---|---|
| Property Use | Net Leased Property |
| Year Built | 1994 |
| Renovated Year | 2011 |
| Max Continuous Area | 8,760 |
| Zoning | Commercial |
| Tax Year | 2021 |
| Cap Rate Percentage | 5.73 |
| Listing ID | RVE4WY |
| Style | Hosp. Restaurant |
| Building Size | 8,071 SF |
| Lot Size | 2.29 AC |
| Available Date | Apr 12th, 2022 |
| Taxes | $43,661 |
Region: Florida West Coast
Region: East Coast USA
Region: Timber Hills Plaza
Region: America/USA
| Parking Places: | 105 |
| Location Name: | Hernando County |
| Zoning: | Commercial |
| Lot Size: | 2-5 Acres |
| Sewer: | City |
| Age: | 21-30 Years Old |
| Water: | City Water |