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Red Lobster | Gresham, OR 240 NW Burnside Rd 9,165 SF Retail Building Gresham, OR 97030 For Sale
Investment Highlights
- Red Lobster; Single-Tenant Absolute NNN
- 35-year operating history at this location (since 1991); executed a new 15-year lease in 2021, with 10 years remaining on the current term
- Strong reported gross sales; ranks near the top in chain performance
- The world’s largest seafood casual dining chain, with 545 U.S. locations across 44 states and four Canadian provinces
- Renovated in 2023
- 2% annual rent increases
Executive Summary
Single-Tenant Absolute NNN | #1 Most Visited Red Lobster in Oregon | 35-Year Operating History | Executed New 15-Year Lease in 2021; Renovated in 2023 | Strong Gross Sales | 2% Annual Increases | Portland MSA; 235,000 Residents, $100,000 AHHI within 5 Miles
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,165 SF
Building Class
B
Year Built/Renovated
1973/2023
Tenancy
Single
Building Height
1 Story
Building FAR
0.47
Lot Size
0.45 AC
Opportunity Zone
Yes
Zoning
DCL
Parking
250 Spaces (27.28 Spaces per 1,000 SF Leased)
Frontage
209’ on Burnside Rd
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Red Lobster began as a single family-owned restaurant in Lakeland, Florida, and was founded in 1968 by Bill Darden. The company grew into a casual dining restaurant chain focused on seafood, with menus built around dishes such as shrimp, crab, lobster, and other coastal classics. Red Lobster emphasizes seafood sourcing standards, with a focus on traceability, sustainability, and responsible supply practices across its restaurant business.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R337315 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $9,425,650 |
Property Taxes
Parcel Number
R337315
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$9,425,650
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Red Lobster | Gresham, OR | 240 NW Burnside Rd
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