Listed by SRS Real Estate Partners Newport Beach
$2,222,000
Red Robin
Details
APN 685-070-007
Property Type Retail
Sub Type Restaurant
Square Footage 6,600
Cap Rate 4.5%
NOI $100,000
Occupancy 100%
Tenancy Single
Brand/Tenant Red Robin
Lease Type Absolute NNN
Lease Term 23.8
Lease Expiration 12/31/2027
Remaining Term 1.4
Rent Bumps Yes
Lease Options 2 (2-year)
Price per SqFt $337
Year Built 2004
Acreage 1.370
Zoning Commercial
Parking Spaces 66 spaces
Parking per 1,000 SqFt 10.00
Tenant Credit Corporate Guarantee
Lease Commencement 04/01/2004
Ground Lease Yes
Ownership Leased Fee (Land Ownership)
Retail | 4.50% CAP | 6,600 SqFt
Investment highlights
- Approximately 1.5 years remaining with 2 (5-year) option periods to extend
- Red Robin corporate signed lease
- Features approximately 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation
- Features below market ground rent
Listing Contacts
Listed by SRS Real Estate Partners Newport Beach
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$100,000.00
$8,333.33/mo
Valuation Metrics
0
DSCR
4.5%
Cap Rate
4.5%
ROI
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