Red Lobster

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Red Lobster

4411 E Black Horse Pike Mays Landing NJ Atlantic County

Sales Price: $2,395,555

Cap Rate: 6.75%

Lease Expiration: 11/30/2024

Contact Person(s): Daniel Kukes
Maxwell Lippitt
Jason Greenspan

Description:

GROUND LEASE
• Zero Landlord responsibilities. Tenant is responsible for all property expenses including taxes, insurance, CAM, and roof & structure.

STRONG NATIONAL TENANT
• This location’s lease is backed by Red Lobster Inc. Red Lobster has 750 locations across the world and employs over 55,000 people. Red Lobster’s parent company, Golden Cate Capital, has over $15B in assets under management.

LONG TERM OCCUPANCY/NEW LEASE RENEWALS
• Red Lobster has been successfully operating at this location since 1989 and recently signed a new lease renewal, demonstrating their commitment to the site.

LOCATION
• Subject property is a pad to the Hamilton Mall and is surrounded by national retailers including Walmart, Target, Hobby Lobby, Macy’s, H&M, Kohl’s, Burlington, BJ’s, ULTA, Dick’s, etc.

Building Size: 9,307 SF

Lot Size: 1.89 AC

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 4,417 19,904 44,956
Avg. HH Income: $91,447 $90,396 $97,351

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.