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Bilt Commercial

Red Robin Ground Lease Below Market Rent | Short Lease

Price
$1,869,000
Cap Rate
5.35%
GLA
6,600 SF
Lot Size
1.37 AC
Year Built
2004
Tenant
Red Robin
Lease Type
Absolute NNN Ground Lease
Lease Term Remaining
3

Investment Highlights

NATIONAL CREDIT TENANT – Red Robin is a publicly traded company (NASDAQ: RRGB).

GROUND LEASE – Red Robin constructed all improvements at its expense and retains ownership during the lease, with improvements reverting to the landowner in case of default or lease expiration.

LOCATION – Located within a popular retail hub with several national retailers.

NEARBY DEVELOPEMENTS – The property is near a large development and shopping/dining spaces, adding further appeal to the area.

MARKET RENT & POTENTIAL UPSIDE – The current ground rent is below market value, presenting significant future upside as market rent for the property is considerably higher than the current lease rate.

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