- For Sale $2,262,623.52
- Property Type Retail - Freestanding
- Property Size 5,927 SF
- Lot Size 1.84 Acre
- Parking Spaces Avail. 127
- Property Tenancy Single Tenant
- Year Built 2011
- Date Updated Apr 22, 2024
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Highlights
- 15+ Year Absolute NNN Lease – Stable Cash Flow Asset–Zero Landlord Responsibilities – Four (5-Year) Options To Renew
- Corporate Guaranty (Red Lobster Intermediate Holdings LLC - 640+Units)
- 2% Annual Rent Increases Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
- High Volume Traffic Location & Visibility From University Dr With Over 35,000 VPD+
- Adjacent to On/Off Ramps to Interstate 40 - Visible to over 120,000VPD+ | Ideal Visibility and Easy Access from Major Interstate
- Thai Union Group (TUG) Has a Long, Successful Track Record and Significant Experience Servicing Consumers, Supermarkets, Restaurants, Hospitality, and Others
- Densely Populated, Infill Location with Excellent Demographics – Over 72,000 People in a 5-Mile Radius
- Average Household Income In 1 Mile Exceeds $95,000
- Food & Alcohol Spending Exceeded $231,000,000 In 2023 Within a5-Mile Radius
- 1.8 Miles To Cone Health Alamance Regional I 238 Bed Facility
- 16 Miles To Greensboro, NC I 38 Miles To Durham, NC
- Land Value Assessed: $1,262,700 I Total Value Assessed: $2,180,650
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Contacts
Location
Getting Around
-
Walk Score ®
38/100 Car-Dependent -
Bike Score ®
37/100 Somewhat Bikeable
- City Burlington, NC
- Zip Code 27215
- Market Winston Salem Greensboro
Points of Interest
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Burlington
4.99 miles
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BJ's Gas Station
0.20 miles
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Tesla Supercharger
0.42 miles
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Shell
0.89 miles
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Harris Teeter Gas
2.12 miles
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BP
2.61 miles
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Valero
2.72 miles
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Sheetz
2.82 miles
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Shell
3.06 miles
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Shell
3.89 miles
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BP
4.99 miles
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Dog Park Parking
1.68 miles
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Innovation Quad Parking Lot
2.83 miles
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Global Parking Lot
2.84 miles
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Car Parking
2.90 miles
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City Park
3.79 miles
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Free Parking
6.60 miles
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Great Alamance Creek Paddle Access
7.48 miles
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Graham Paddle Access
8.49 miles
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Red Lobster
0.00 miles
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Olive Garden
0.04 miles
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Chick-fil-A
0.08 miles
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Texas Roadhouse
0.11 miles
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McDonald's
0.11 miles
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Tropical Smoothie Cafe
0.16 miles
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Chili's
0.20 miles
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Moe's Southwest Grill
0.21 miles
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Burger King
0.22 miles
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Freddy's
0.22 miles
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Target
0.13 miles
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TJ Maxx
0.26 miles
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Ross
0.27 miles
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Kohl's
0.34 miles
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Dillard's
0.54 miles
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JCPenney
0.66 miles
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Belk
0.66 miles
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Lowes Foods
0.95 miles
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Food Lion
0.96 miles
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Walmart Supercenter
1.09 miles
Frequently Asked Questions
What is the lease rate for Red Lobster?
Rental asking rate at Red Lobster is $1,131,311.76/YR.
What is the total square footage of Red Lobster?
Red Lobster totals 5,927 square feet.
When was this property built?
Red Lobster was built in 2011.
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