off market Red Lobster NNN property investment or Red Lobster Ground lease for 1031 exchange

Corporate Red Lobster

$3,597,800.00

This Red Lobster property is located at 1075 FM 802 in Brownsville, Texas. Brownsville is the 16th most populous city in the state. It is located at the southernmost tip of Texas, on the northern bank of the Rio Grande, directly north and across the border from Matamoros, Tamaulipas,
Mexico.
There are approximately 103,313 people within a three-mile radius of this property and 169,598 within a five-mile radius. The property is situated on FM 802, with average daily traffic counts of 36,245 vehicles. Adjacent to FM 802 is U.S. Interstate 69E, which brings in an additional
71,000 vehicles to the area.

Category: Featured Listings

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Description

Triple Net Investment Group is pleased to present an opportunity to purchase Red Lobster located at 1075 FM 802 in Brownsville, Texas. The property is 8,127 square feet and is situated on approximately1.27 acres of land. This Red Lobster is subject to a 25-year triple-net (NNN) lease, with 17+ years remaining on the lease and 2% annual rent increases. The subject property is well-positioned in a strong retail corridor, benefitting from being an outparcel to the Sunrise Mall. The Sunrise Mall is anchored by Dicks, JC Penney, Dillard’s and Bealls. The mall contains over 100 stores including Aeropostale, Dick’s Sporting Goods, Foot Locker, GameStop, Gap, Kmart, Victoria’s Secret, Staples, Old Navy and Marshalls, which is a strong driver of traffic to this Red Lobster site. Walmart, Lowe’s, Sam’s Club, Home Depot, Target, T.J. Maxx and CVS Pharmacy are amongst the nationally recognized retailers in the immediate area.

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