3002 Saint Michael Dr - Restaurant FOR SALE
Texarkana, TX 75503 |
$3,000,000 USD
332-345-4202
3002 Saint Michael Dr
Texarkana, TX 75503
HIGHLIGHTS
- Strong Underlying Real Estate | 1.79-Acre Lot | 7,422 Square-Foot Building | Interstate Location
- Strong Highway Frontage | Large Pylon Sign Visible From Interstate-30 | 71,808 Vehicles Per Day
- Growing Retail Corridor | Newer Construction Panda Express | Newer Construction Texas Roadhouse
- Plans Recently Approved for A 500-Acre Data Center Campus In Texarkana | 'Project Big Pine'
OVERVIEW
Surmount is pleased to present the exclusive listing for a Red Lobster located at 3002 St. Michael Dr, Texarkana, TX 75503. The site consists of roughly 7,422 rentable square feet of building space on an estimated 1.79-acre parcel of land. This Red Lobster is subject to a 25-year Absolute Triple-Net (NNN) lease, which commenced 08/01/2014. The current annual rent is $211,908 and has scheduled increases of 2.00% Annually.
FOR SALE DETAILS
PRICE
$3,000,000 USD
PRICE/SF
$451 USD /SF
CAP RATE
7.06%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Red Lobster
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Restaurant
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1986
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1.79 AC
LAND SF
77,972 SF
ZONING
-
APN/PARCEL ID
81394
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332-345-4202
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332-345-4202
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