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Red Robin | 13+yrs Remain Corp Abs NNN 8304 Kenbrooke Dr

6,378 SF Retail Building Charlotte, NC 28262 $3,077,000 ($482/SF) 6.50% Cap Rate

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Investment Highlights

13+ Years Remaining | Scheduled Rental Increases |Options To Extend | Well-Known & Established Tenant
Wells Fargo CIC Campus (10,000 Employees) | State Highway 24 |University of North Carolina (30,500 Students)
Strong Demographics in 5-Mile Trade Area | Charlotte MSA

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Dense Retail Corridor | Shoppes at University Plaza (650,000 SF) |Multiple Nearby Apartment Complexes | National/Credit Tenants

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Red Robin investment property located in Charlotte, North Carolina. The tenant has over 13 years of firm term remaining with 4 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Founded in 1969, there are now more than 500 Red Robin restaurants across the United States and Canada, including those operating under franchise agreements.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

6,378 SF

Building Class

Year Built

2005

Price

$3,077,000

Price Per SF

$482

Cap Rate

6.50%

NOI

$200,000

Tenancy

Single

Building Height

1 Story

Building FAR

0.31

Lot Size

0.47 AC

Zoning

MUDD-O - Mixed Use Development District

Parking

8 Spaces (1.25 Spaces per 1,000 SF Leased)

Amenities

Freeway Visibility
Restaurant

Signage

Signalized Intersection

Air Conditioning

Accommodation and Food Services
99,999 SF
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Red Robin Gourmet Burgers, Inc. is a casual dining restaurant chain founded in 1969 that operates through its wholly-owned subsidiary, Red Robin International, Inc., and under the trade name, Red Robin Gourmet Burgers and Brews. Red Robin Gourmet Burgers, Inc. believes nothing brings people together like burgers and fun around their table, and no one makes moments of connection over crave-able food more memorable than Red Robin. They serve a variety of burgers and mainstream favorites to Guests of all ages in a casual, playful atmosphere. In addition to their many burger offerings, Red Robin serves a wide array of salads, appetizers, entrees, desserts, signature beverages and Donatos® pizza at select locations. It's now easy to enjoy Red Robin anywhere with online ordering available for to-go, delivery and catering. There are Red Robin restaurants across the United States and Canada, including those operating under franchise agreements.