New 15 Year Absolute NNN Leased Red Robin | 8720 Interstate 40 W
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New 15 Year Absolute NNN Leased Red Robin 8720 Interstate 40 W
6,534 SF Retail Building Amarillo, TX 79124 $2,461,538 ($377/SF) 6.50% Cap Rate
Investment Highlights
- New 15 year absolute NNN lease
- Corporate guarantee
- Prime location within the highest density retail corridor of Amarillo
- Zero landlord obligations
- Tax free income state
- Prime location within the highest density retail corridor of Amarillo
Executive Summary
The Kase Group is pleased to present the opportunity to purchase well
established Red Robin location in Amarillo, Texas with a new 15 year
absolute NNN lease. The recently extended lease calls for zero landlord
obligations and is corporately guaranteed by Red Robin. There are 10%
increases every 5 years throughout the initial term and options, and four 5-
year renewal options. The site benefits from its hard corner location within
the highest density retail corridor of Amarillo, being exposed to 17,524 VPD
along Soncy Rd and 87,388 VPD across W Interstate Hwy 40. The building
situated nearby the Westgate Mall, a 878,000 square feet regional outlet
shopping center anchored by Dillard's Women, Dillard's Men and Home,
JCPenney and Bealls. Additional neighboring tenants include Target, The
Home Depot, Sam's Club, Kohl's, PetSmart, Mattress Firm, Party City, TMobile,
Barnes & Noble, Best Buy & more.
established Red Robin location in Amarillo, Texas with a new 15 year
absolute NNN lease. The recently extended lease calls for zero landlord
obligations and is corporately guaranteed by Red Robin. There are 10%
increases every 5 years throughout the initial term and options, and four 5-
year renewal options. The site benefits from its hard corner location within
the highest density retail corridor of Amarillo, being exposed to 17,524 VPD
along Soncy Rd and 87,388 VPD across W Interstate Hwy 40. The building
situated nearby the Westgate Mall, a 878,000 square feet regional outlet
shopping center anchored by Dillard's Women, Dillard's Men and Home,
JCPenney and Bealls. Additional neighboring tenants include Target, The
Home Depot, Sam's Club, Kohl's, PetSmart, Mattress Firm, Party City, TMobile,
Barnes & Noble, Best Buy & more.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,534 SF
Building Class
B
Year Built
2006
Price
$2,461,538
Price Per SF
$377
Cap Rate
6.50%
NOI
$160,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.67 AC
Zoning
HC
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R-073-0570-0164-0 | Improvements Assessment | $946,632 |
| Land Assessment | $1,018,433 | Total Assessment | $1,965,065 |
PROPERTY TAXES
Parcel Number
R-073-0570-0164-0
Land Assessment
$1,018,433
Improvements Assessment
$946,632
Total Assessment
$1,965,065
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New 15 Year Absolute NNN Leased Red Robin | 8720 Interstate 40 W
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