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Red Lobster 12235 St. Charles Rock Rd 8,534 SF Retail Building Bridgeton, MO 63044 $4,783,803 CAD ($560.56 CAD/SF) 11.50% Cap Rate

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INVESTMENT HIGHLIGHTS

Long Term Lease
Zero Landlord Responsibilities
Strong Traffic Counts

Fixed Annual Rent Increases
Strategic Location
Excellent Demographics

EXECUTIVE SUMMARY

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the fee-simple interest in the single-tenant, Absolute NNN, Red Lobster located at 12235 Saint Charles Rock Road in Bridgeton (St Louis MSA), Missouri (the “Property”). The Property was renovated for Red Lobster in 2012. Red Lobster has 9 years remaining on their lease term with four, 5-year renewal options. Red Lobster’s lease calls for attractive 2% annual increases providing for fixed, annual increases in revenue. The Property is strategically located adjacent to the signalized intersection of McKelvey Road and Saint Charles Rock Road (MO Route 180), the area’s primary commercial corridor. The Property enjoys excellent frontage and visibility, is shadow anchored by Target, across the street from The Plaza at DePaul, a Kohls and ALDI anchored center, and is surrounded by national retailers and businesses that drive significant traffic to the area. The Property is close to Interstates 70 and 270 and is just 3.5-miles from St Louis Lambert International Airport, which sees over 15 million passengers annually. Bridgeton is part of the St. Louis MSA (approximately 2.8 million residents) and is 15-miles northwest of Downtown St. Louis.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Restaurant

Building Size

8,534 SF

Building Class

Year Built/Renovated

1973/2012

Price

$4,783,803 CAD

Price Per SF

$560.56 CAD

Cap Rate

11.50%

NOI

$550,136 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.12

Lot Size

1.67 AC

Zoning

10B-2 - Mixed commercial, retail

Parking

52 Spaces (6.09 Spaces per 1,000 SF Leased)

Frontage

313’ on Saint Charles Rock Rd

Signage

MAJOR TENANTS

Accommodation and Food Services
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-
Jul 2034

Before there was Red Lobster, there was Bill Darden, a man passionate about making delicious, high-quality seafood available and affordable to everyone, including people who lived far from the coast and regardless of race, gender, religion or economic means. What was once a single, family-owned restaurant in Lakeland, Florida, now has locations around the world.