Red Lobster 9801 Independence Pointe Pky 6,145 SF Retail Building Matthews, NC 28105 $3,314,000 ($539.30/SF) 7.01% Cap Rate
INVESTMENT HIGHLIGHTS
- LONG-TERM NNN LEASE – Red Lobster operates under a 25-year Absolute NNN lease with ±14.5 years remaining
- ESTABLISHED LOCATION – Red Lobster has operated at this location since 2014, demonstrating long-term success and tenant commitment
- SURROUNDED BY NATIONAL RETAILERS & MAJOR EMPLOYERS – The site benefits from strong consumer traffic, positioned near Costco, Target, Home Depot
- STRUCTURED RENT GROWTH – The lease includes 2% annual rental increases starting in 2027, providing consistent NOI growth and hedge against inflation.
- PRIME RETAIL LOCATION IN A HIGH-TRAFFIC CORRIDOR – The property is located along Independence Blvd (±57,000 VPD), near Loop 485 (±45,500 VPD)
- RAPIDLY GROWING AND AFFLUENT TRADE AREA – The 5-mile radius population is ±176,212, with a projected 5.66% growth rate over the next five years
EXECUTIVE SUMMARY
Broker of Record
Kyle Matthews
License No. C38369 (NC)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Kyle Matthews
License No. C38369 (NC)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,145 SF
Building Class
C
Year Built
2012
Price
$3,314,000
Price Per SF
$539.30
Cap Rate
7.01%
NOI
$232,172
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
3.22 AC
Zoning
B2CD - Business Commercial District
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
- -
- -
- Triple Net
- Jul 2034
Before there was Red Lobster, there was Bill Darden, a man passionate about making delicious, high-quality seafood available and affordable to everyone, including people who lived far from the coast and regardless of race, gender, religion or economic means. What was once a single, family-owned restaurant in Lakeland, Florida, now has locations around the world.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | - | - | Triple Net | Jul 2034 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 193-231-23 | Improvements Assessment | $1,058,800 |
| Land Assessment | $3,403,800 | Total Assessment | $4,462,600 |
