Red Lobster (Beachwood, Ohio)

3655 Orange Place
Beachwood, OH 44122

Contact

Overview

  • List Price: $5,502,513
  • Price PSF: $736.81
  • Cap Rate: 5.85%
  • NOI: $321,897
  • Rent PSF: $43.10
  • Lease Expiration: December 31, 2034
  • Year Built: 1977
  • Building Size: 7,468 SF
  • Land Size: 2.26 Acres

Features

  • Corporate guarantee with over 700+ locations
  • Median Home Value of $319,960 in a 1-mile radius
  • Average household income of $80,726 in a 1-mile radius
  • Offering memorandum available by request
  • Site is surrounded by five hotels (Extended Stay, Courtyard by Marriott, Super 8 and Hampton Inn and Fairfield Inn)
  • Located directly across the street from a five story multi-tenant office building
  • New Pinecrest development to the south anchored by Whole Foods
  • University Hospital to the south

Specifications

  • Long term lease with 16 years remaining
  • Absolute net lease structure with zero landlord responsibilities
  • 2% annual escalations with next bump in December 2018
  • Four, Five Year renewal options
  • 100% Fee Simple Ownership