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Red Lobster 3002 Saint Michael Dr 6,650 SF Retail Building Texarkana, TX 75503 $3,000,000 ($451.13/SF) 7.06% Cap Rate
Investment Highlights
- Strong Underlying Real Estate | 1.79-Acre Lot | 7,422 Square-Foot Building | Interstate Location
- Growing Retail Corridor | Newer Construction Panda Express | Newer Construction Texas Roadhouse
- Strong Highway Frontage | Large Pylon Sign Visible From Interstate-30 | 71,808 Vehicles Per Day
- Plans Recently Approved for A 500-Acre Data Center Campus In Texarkana | 'Project Big Pine'
Executive Summary
Surmount is pleased to present the exclusive listing for a Red Lobster located at 3002 St. Michael Dr, Texarkana, TX 75503. The site consists of roughly 7,422 rentable square feet of building space on an estimated 1.79-acre parcel of land. This Red Lobster is subject to a 25-year Absolute Triple-Net (NNN) lease, which commenced 08/01/2014. The current annual rent is $211,908 and has scheduled increases of 2.00% Annually.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,650 SF
Building Class
C
Year Built/Renovated
1986/2013
Price
$3,000,000
Price Per SF
$451.13
Cap Rate
7.06%
NOI
$211,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.79 AC
Moderately walkable
60/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Contacts
-
Judson Kauffman -
Hannan Ben Yosef -
Matthew Sorace -
Christopher Marks -
Glen Kunofsky -
Surmount
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Photos
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Red Lobster | 3002 Saint Michael Dr
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