Red Lobster
Retail | 7.75% CAP | 8,141 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Red Lobster located at 29980 Plymouth Road, Livonia, MI 48150. The site consists of roughly 8,141 rentable square feet of building space on an estimated 1.94-acre parcel of land. This Red Lobster is subject to a --year Triple Net (NNN) lease, which commenced -. The current annual rent is $195,153 and has scheduled increases of 2.00% annually.
Investment highlights
Adjacent to High Performing Walmart Super Center | This Red Lobster is located directly across the street to a high performing Walmart Super Center, which ranks in the 76th percentile nationwide and in the 88th percentile in Michigan, according to Placer.ai.
Incredibly Dense Population | This Red Lobster is located in an incredibly dense population area, with over 90,800 individuals residing within a 3-mile radius, and over 271,000 individuals residing within a 5- mile radius of the subject property.
Dense Retail Corridor | The subject property is located in a dense retail corridor with a plethora of national tenants which include, Walmart, Target, Chili's, Five Guys, Pizza Hut, McDonald's, Firestone, Advanced Auto Parts, Fed Ex, Game Stop, and many more.
Long-term, Absolute Triple-Net (NNN) Lease | This Red Lobster features an absolute triple-net lease with over 19 years of term remaining and zero landlord responsibilities. The lease features attractive rental increases of 2.00% annually throughout the base term, as well as in the 4, 5-year tenant renewal options.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
