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Red Robin | 13+yrs Remain Corp Abs NNN 3055 Gateway Blvd

6,334 SF Retail Building Prescott, AZ 86303 £2,353,230 (£372/SF) 6.50% Net Initial Yield

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Investment Highlights

Over 13 Years OF Firm Term Remaining | Options To Extend | Scheduled Rental Increases | Well-Known & Established Tenant
Signalized, Hard Corner Intersection | State Highway 69 | Multiple Nearby Apartment Complexes
Strong Demographics in 5-Mile Trade Area

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Adjacent to 534,000 SF Regional Mall | Dense Retail Corridor | Frontier Village (755,000 SF Power Center)

Executive Summary

SRS Real Estate Partners-West, LLC 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 Prescott, Arizona. The tenant currently 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

Restaurant

Building Size

6,334 SF

Building Class

Year Built

2002

Price

£2,353,230

Price Per SF

£372

Net Initial Yield

6.50%

NOI

£152,960

Tenancy

Single

Number of Floors

Building FAR

0.11

Land Acres

1.33 AC

Zoning

BR - Business Regional

Parking

61 Spaces (9.63 Spaces per 1,000 SF Leased)

Amenities

Corner Lot
Freeway Visibility

Restaurant

Signage

Signalised Intersection

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.