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Red Lobster 5015 Kietzke Ln 7,303 SF Retail Building Reno, NV 89511 $7,214,201 CAD ($987.84 CAD/SF) 6.05% Cap Rate
Investment Highlights
- Corporate guarantee by Red Lobster Hospitality LLC - Recent 5-year extension demonstrates Red Lobster’s commitment to the site
- Long-term lease with over 23.5 years remaining due to a recent 5- year extension with 4 (5-year) options to extend
- Excellent location as a pad to a Lowe’s Home Improvement at the southwest corner of S. McCarran Blvd (39,100 VPD) and Kietzke Lane (25,700 VPD)
- Absolute NNN lease, no landlord responsibilities - Passive and management-free asset for investor
- The lease features a rent increase of 5% in August, 2026 and thereafter increases 2% annually for the remainder of the term, compounding NOI and hedgi
- Within 1 block of the on/off ramps to Interstate 580 (132,000 VPD), the main north/south highway going through Reno
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,303 SF
Building Class
B
Year Built
2007
Price
$7,214,201 CAD
Price Per SF
$987.84 CAD
Cap Rate
6.05%
NOI
$436,314 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.29 AC
Zoning
PD
Parking
70 Spaces (9.59 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Dedicated Turn Lane
- Restaurant
- Signage
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- 7,303 SF
- $4.98 CAD
- Triple Net
- Oct 2049
Avant le Lobster Rouge, il y avait Bill Darden, un homme passionné par la mise à disposition de délicieux fruits de mer de haute qualité et abordables pour tous, y compris les personnes vivant loin de la côte et sans distinction de race, de sexe, de religion ou de moyens économiques. Ce qui était autrefois un restaurant familial unique à Lakeland, en Floride, a maintenant des emplacements dans le monde entier.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 7,303 SF | $4.98 CAD | Triple Net | Oct 2049 |
Bike Score®
Very Bikeable (76)
Nearby Major Retailers
Property Taxes
| Parcel Number | 040-951-07 | Improvements Assessment | $584,063 CAD |
| Land Assessment | $507,968 CAD | Total Assessment | $1,092,031 CAD |
Property Taxes
Parcel Number
040-951-07
Land Assessment
$507,968 CAD
Improvements Assessment
$584,063 CAD
Total Assessment
$1,092,031 CAD
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Red Lobster | 5015 Kietzke Ln
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