4990 Monroe St
Toledo, OH 43623
Retail Property For Sale

Marcus & Millichap is pleased to present the exclusive listing for Red Lobster located at 4990 Monroe Street in Toledo, Ohio. The property is 9,870 square feet and is situated on approximately 2.29 acres of land.This Red Lobster is subject to a 20-year triple-net (NNN) lease, with roughly 18 years remaining on the lease. Current annual rent is$271,527. The rent is scheduled to increase by two percent annually, including through the four, five year tenant renewal options. This Red Lobster property is located at 4990 Monroe Street in Toledo, Ohio less than 4 miles from the southern border of Michigan. Toledo is the 4th most populous city in Ohio, and known as The Glass Capital of the World. Although Toledo was once known primarily for its glass industry, the city has richened its culture, encouraged development, and increased tourism while holding onto its well-known industrial value.The subject property is well-positioned on Monroe Street in close proximity to both Interstate-475 and Route 223. The closest interstate experiences an outstanding average daily traffic count of over 52,000 vehicles per day, and approximately 24,000 vehicles pass this location daily.