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Red Lobster 3501 S Memorial Dr 8,355 SF Retail Building Greenville, NC 27834 $3,954,288 CAD ($473.28 CAD/SF) 7% Cap Rate
Investment Highlights
- High-Traffic Retail Corridor
- Strong Daytime Population Drivers
- Dominant Regional Retail Node
- Growing 5-Mile Population Base
Executive Summary
Surmount is pleased to present the exclusive listing for a Red Lobster located at 3501 South Memorial Drive, Greenville, NC 27834. The site consists of roughly 8,355 rentable square feet of building space on an estimated 1.87-acre parcel of land. Red Lobster is subject to a 22.61-year Triple Net (NNN) lease, which commenced 7/28/2014 and has more than 10.75 years remaining on the lease. The current annual rent is $200,000 and has scheduled increases of 2.00% annually starting 8/1/2027.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
8,355 SF
Building Class
B
Year Built
1991
Price
$3,954,288 CAD
Price Per SF
$473.28 CAD
Cap Rate
7%
NOI
$276,814 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.87 AC
Zoning
CH
Fairly walkable
40/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 083672 | Improvements Assessment | $974,358 CAD |
| Land Assessment | $962,230 CAD | Total Assessment | $1,936,588 CAD |
Property Taxes
Parcel Number
083672
Land Assessment
$962,230 CAD
Improvements Assessment
$974,358 CAD
Total Assessment
$1,936,588 CAD
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Red Lobster | 3501 S Memorial Dr
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