Red Lobster Absolute Net in St. Louis
12235 St Charles Rock Rd, Bridgeton, MO 63044, USA Map
Listing Price $5,224,551
Status | Active |
Lease Type | Absolute Net |
Property Type | Net Lease |
CAP Rate | 7.25% |
GLA (Sq. Ft.) | 8,534 |
NOI | $378,780 |
Lease Term Remaining | 10 Years |
Increases | 2% Annually |
Options | 4 x 5 Years |
State (BOR) | MO |
Broker of Record | David Saverin |
License # (BOR) | 2008013520 |
Investment Highlights
- Well Established Retail Corridor | Nearby National
Retailers Include: Lowe’s, Target, Walmart, Best Buy,
Kohl’s, CVS, Applebee’s, Wendy’s, Chick-fil-A, Olive
Garden, and Others - Thriving Community with an Average Household
Income of $73,000 and 143,041 Population within
Five Miles of the Subject Asset, as of 2022
Robust Traffic Counts on St. Charles Rock Road
(23,742 VPD), a Half Mile off of I-270 (59,713 VPD),
and a Half Mile off of I-70 (52,346 VPD) (Source:
LandVision, CoStar, MODOT, 2022) - Parks and Outdoor Recreational Facilities Nearby
Include: Creve Coeur Park, Hollywood Casino, Saint
Stanislaus Conservation Area, Forest Park, St. Vincent
Park, St. Louis Zoo, St. Louis Art Museum, and More - Subject is Less than Three Miles from St. Louis
Lambert International Airport, Serving 15 Million
Passengers Annually (flystl.com) - Red Lobster is Across the Street fom DePaul Hospital,
Serving 200,000 Patients per Year - Subject is 13 Miles from Downtown St. Louis, with a
Metro Population of 2.8 Million People - Article – Red Lobster: A Bridgeton Tradition
Investment Overview
Subject is a Prime 8,534 Square-Foot Build-to-Suit Red Lobster on a 1.67-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress, and Strategically Located on a Target Outlot. Absolute NNN Lease with Zero Landlord Responsibility Over Ten Years Remaining with 2% Annual Rental Increases, 4 x 5-Year Options.