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Red Lobster 1520 Georgesville Rd 8,371 SF Retail Building Columbus, OH 43228 $4,123,029 ($492.54/SF) 7% Cap Rate
Investment Highlights
- Long-term, Absolute Triple-Net (NNN) Lease
- High-Traffic Corridor with Exceptional Visibility & Access
- Healthy and Stable Demographics
- Healthy Retail Market
Executive Summary
Surmount is pleased to present the exclusive listing for a Red Lobster located at 1520 Georgesville Road, Columbus, OH 43228. The site consists of roughly 8,371 rentable square feet of building space on an oversized 1.95-acre parcel of land. This red lobster is subject to an original 25-year Absolute NNN lease with +14 years remaining in the base term, which commenced 8/1/2024. The current annual rent is $288,612 and has scheduled increases of 2.00% annually.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
8,371 SF
Building Class
B
Year Built
2002
Price
$4,123,029
Price Per SF
$492.54
Cap Rate
7%
NOI
$288,612
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.95 AC
Zoning
Restaurant/Bar
Frontage
256’ on Georgesville Rd
Nearby Major Retailers
Property Taxes
| Parcel Number | 570-259794 | Improvements Assessment | $183,330 |
| Land Assessment | $285,850 | Total Assessment | $469,180 |
Property Taxes
Parcel Number
570-259794
Land Assessment
$285,850
Improvements Assessment
$183,330
Total Assessment
$469,180
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Red Lobster | 1520 Georgesville Rd
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