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5015 Kietzke Ln 7,303 SF Retail Building Reno, NV 89511 $5,200,000 ($712.04/SF) 6.51% Cap Rate
Investment Highlights
- Corporate guarantee by Red Lobster Hospitality LLC - Recent 5-year extension demonstrates Red Lobster’s commitment to the site
- Long-term lease with over 23.5 years remaining due to a recent 5- year extension with 4 (5-year) options to extend
- Excellent location as a pad to a Lowe’s Home Improvement at the southwest corner of S. McCarran Blvd (39,100 VPD) and Kietzke Lane (25,700 VPD)
- Absolute NNN lease, no landlord responsibilities - Passive and management-free asset for investor
- The lease features a rent increase of 5% in August, 2026 and increases 2% annually for the remaining term, compounding NOI and hedging inflation
- Within 1 block of the on/off ramps to Interstate 580 (132,000 VPD), the main north/south highway going through Reno
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,303 SF
Building Class
B
Year Built
2007
Price
$5,200,000
Price Per SF
$712.04
Cap Rate
6.51%
NOI
$338,351
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.29 AC
Zoning
PD
Parking
70 Spaces (9.59 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Dedicated Turn Lane
- Restaurant
- Signage
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- 7,303 SF
- $3.66
- Triple Net
- Oct 2049
Red Lobster began in 1968 as a single family-owned restaurant in Lakeland, Florida, built around making seafood available and affordable for a broad range of guests. The company now operates a wide network of seafood restaurants around the world and centers its business on casual dining, seafood sourcing standards, and menu offerings built around lobster, crab, shrimp, and fish. Red Lobster also highlights community programs that donate unused wholesome food and support employees and local organizations through its giving efforts.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 7,303 SF | $3.66 | Triple Net | Oct 2049 |
Moderately walkable
70/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 040-951-07 | Improvements Assessment | $429,089 |
| Land Assessment | $373,185 | Total Assessment | $802,274 |
Property Taxes
Parcel Number
040-951-07
Land Assessment
$373,185
Improvements Assessment
$429,089
Total Assessment
$802,274
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5015 Kietzke Ln
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