Absolute NNN Red Lobster
For Sale
Contact for pricing
3002 Saint Michael Drive, Texarkana, TX 75503
Red Lobster on an estimated 1.79-acre site with a 25-year absolute triple-net lease in place.
Property Size7,422 SF
Lot Size1.79 Acres
Price / SF$404.20
Days on Market170
Property Features for 3002 Saint Michael Drive
General Information
Standard status
Active
Size
7,422 SF
Lot size
1.79 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$211,908
Building Details
Year Built
1986
Year Renovated
2013
Tenancy
Single
Listing Agency:
SURMOUNT
Listed By:
Judson Kauffman · License #NY 10401296108
Source:
Crexi
Added: May 6
Changed: Oct 13
Last Checked: Oct 20 at 6:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SURMOUNT
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Investment Insights
Based on property information with market context.
This property is an income-producing Red Lobster restaurant offered for sale as an absolute triple-net investment. The site includes approximately 7,422 rentable square feet of building space on an estimated 1.79-acre parcel. The property is subject to a 25-year absolute triple-net (NNN) lease that commenced on 08/01/2014, with scheduled 2.00% annual rent increases.
The asset is located at 3002 Saint Michael Drive in Texarkana, Texas. The current annual rent is listed as $211,908, and the lease term is 25 years from commencement.
The listing is presented as a conventional restaurant specialty asset operated under an absolute NNN structure, with the building and site held under the existing long-term lease.
The asset is located at 3002 Saint Michael Drive in Texarkana, Texas. The current annual rent is listed as $211,908, and the lease term is 25 years from commencement.
The listing is presented as a conventional restaurant specialty asset operated under an absolute NNN structure, with the building and site held under the existing long-term lease.
Key Highlights
- Red Lobster at 3002 St. Michael Dr, Texarkana, TX 75503
- Approximately 7,422 rentable SF building on an estimated 1.79‑acre parcel
- 25‑year absolute triple‑net (NNN) lease in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,993
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,639,860
$2.6M
Cap Rate 7%
$1,885,614
$1.9M
Cap Rate 9%
$1,466,589
$1.5M
Market Conditions
NOI Build-Up for 7,422 SF
Gross rent
$185.3K $24.96/SF
− Vacancy
−$9.3K −$1.25/SF
EGI
$176.0K $23.71/SF
− OpEx
−$44.0K −$5.93/SF
NOI
$132.0K $17.78/SF
Area
Bowie County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,639,860
Cap Rate 7%
$1,885,614
Cap Rate 9%
$1,466,589
Alternative Uses
Best Use
Specialty Retail
$1.89M
$1.65M – $2.20M
NOI $131,993 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$5.59M
$4.89M – $6.52M
NOI $391,325 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,046
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 75503, TX
25,547
Population
11,464
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
95%
High-School Grad
78.5 sq mi
ZIP Area
325
Density / Sq Mi
$67,733
Median Household Income
$43,508
Median Earnings
$1,185
Median Rent
$214,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Red Lobster on an estimated 1.79-acre site with a 25-year absolute triple-net lease in place.
Where is this conventional restaurant located?
The property is located at 3002 Saint Michael Drive Texarkana, TX.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Red Lobster at 3002 St. Michael Dr, Texarkana, TX 75503; Approximately 7,422 rentable SF building on an estimated 1.79‑acre parcel; 25‑year absolute triple‑net (NNN) lease in place
