Listed by SURMOUNT
$3,000,000
Red Lobster | Interstate Location
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 7,422
Cap Rate 7.06%
NOI $211,908
Occupancy 100%
Tenancy Single
Brand/Tenant Red Lobster
Lease Type Absolute NNN
Lease Term 25
Lease Expiration 07/31/2039
Remaining Term 13.2
Rent Bumps Yes
Lease Options 4, 5-Year Options
Year Built 1986
Year Renovated 2013
Acreage 1.790
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/01/2014
Ground Lease No
Ownership Fee Simple
1.79-Acre Lot | Interstate Location | 71,808 Vehicles Daily | Major Hospitality Hub
Marketing description
Surmount is pleased to present the exclusive listing for a Red Lobster located at 3002 St. Michael Dr, Texarkana, TX 75503. The site consists of roughly 7,422 rentable square feet of building space on an estimated 1.79-acre parcel of land. This Red Lobster is subject to a 25-year Absolute Triple-Net (NNN) lease, which commenced 08/01/2014. The current annual rent is $211,908 and has scheduled increases of 2.00% Annually.
Investment highlights
- Strong Underlying Real Estate | 1.79-Acre Lot | 7,422 Square-Foot Building | Interstate Location | Situated Within a Major Hospitality Hub | The subject property is a 7,422 square-foot building located on a 1.79-acre lot along a major interstate highway.
- Strong Highway Frontage | Large Pylon Sign Visible From Interstate-30 | 71,808 Vehicles Per Day | The property is visible from Interstate-30 which experiences 71,808 vehicles per day. The property is located along I-30 Frontage Rd/St Michael Dr which sees 15,262 vehicles daily.
- Growing Retail Corridor | Newer Construction Panda Express | Newer Construction Texas Roadhouse | New Construction Bubba's 33 | New Construction Andy's Frozen Custard | There is a large influx of newer construction retail developments in the immediate area.
- Plans Recently Approved for A 500-Acre Data Center Campus In Texarkana | 'Project Big Pine' | In April 2026, TexAmericas Center announced the advancement of Project Big Pine, a data center campus planned for approximately 500 acres on the Texas side of the Texarkana MSA.
- Ideal Casual Dining Demographics | High-Traffic Interstate Location | Major Hospitality Hub Of Texarkana | Nine (9) Hotels within a Two (2)-Mile Radius | Strong Reuse Capabilities | The subject property sits along a major interstate with a strong hospitality presence in the immediate area. There are nine hotels within a two-mile radius of the property. There are three access points at the property with two along I-30 Frontage Rd.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$211,908.00
$17,659.00/mo
Valuation Metrics
0
DSCR
7.06%
Cap Rate
7.06%
ROI
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