1031 Deal Hub

Red Lobster

Overview

Red Lobster is a casual dining restaurant known for its seafood. Red Lobster has over 700 locations countrywide and locations internationally. In general, Red Lobster offers a 20 to 25-year lease with zero landlord responsibility. In addition to the long-term lease, Red Lobster typically has rent escalations built into their terms, but in general keep those escalations to approximately 2% annually.
Lowest Cap Rate

5.03%

Average Cap Rate

5.92%

Property & Lease

Average Sale Price

$3,000,000 – $6,750,000

Average NOI

$175,000 – $400,000

Building SF

8,000

Lease Term

20 – 25 Years

Escalations

2% Annually

Stock Symbol

NYSE:DRI
Credit Rating

S&P

N/A

Moody’s

Caa1

Tenants

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