$5,300,000 USD
925-388-0888
5015 Kietzke Ln
Reno, NV 89511
Outer Old Southwest Reno
HIGHLIGHTS
- Corporate guarantee by Red Lobster Hospitality LLC - Recent 5-year extension demonstrates Red Lobster’s commitment to the site
- Absolute NNN lease, no landlord responsibilities - Passive and management-free asset for investor
- Long-term lease with over 23.5 years remaining due to a recent 5- year extension with 4 (5-year) options to extend
- The lease features a rent increase of 5% in August, 2026 and increases 2% annually for the remaining term, compounding NOI and hedging inflation
- Excellent location as a pad to a Lowe’s Home Improvement at the southwest corner of S. McCarran Blvd (39,100 VPD) and Kietzke Lane (25,700 VPD)
- Within 1 block of the on/off ramps to Interstate 580 (132,000 VPD), the main north/south highway going through Reno
FOR SALE DETAILS
PRICE
$5,300,000 USD
PRICE/SF
$726 USD /SF
CAP RATE
6.05%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Red Lobster
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Restaurant
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2007
SPRINKLERS
-
PARKING SPACES
70
LAND DETAILS
LAND ACRES
1.29 AC
LAND SF
56,192 SF
ZONING
PD
APN/PARCEL ID
040-951-07
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925-388-0888
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925-388-0888
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