Red Lobster NNN
For Sale
Contact for pricing
Pending
3217 Vermilion Street, Danville, IL 61832
Operating restaurant property backed by a long-term triple-net lease with scheduled annual rent increases.
Property Size8,565 SF
Lot Size1.42 Acres
Days on Market144
Property Features for 3217 Vermilion Street
General Information
Standard status
Pending
Size
8,565 SF
Lot size
1.42 Acres
Property subtype
Retail
Listing Agency:
SURMOUNT
(332) 345-4222
Listed By:
Glen Kunofsky · License #NY 49KU1129178
Source:
Crexi
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 30 at 2:55PM
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
Investment Insights
Based on property information with market context.
The Red Lobster property includes approximately 8,565 square feet of building area on approximately 1.42 acres. The restaurant asset is subject to a 25-year triple-net lease, with 22 years remaining on the initial term and annual rent increases of 2.00%.
The lease also provides four 5-year tenant renewal options, extending the contractual term if exercised. The property is located at 3217 Vermilion Street in Danville, Illinois, within ZIP code 61832.
The lease also provides four 5-year tenant renewal options, extending the contractual term if exercised. The property is located at 3217 Vermilion Street in Danville, Illinois, within ZIP code 61832.
Key Highlights
- Approximately 8,565 square feet of building area
- Approximately 1.42 acres of land
- 25‑year triple‑net lease with 22 years remaining
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Explore this area
Business Placement
Demographics for 61832, IL
32,878
Population
16,390
Households
2
Avg Household Size
40
Median Age
17%
College-Educated
90%
High-School Grad
27.3 sq mi
ZIP Area
1,204
Density / Sq Mi
$45,264
Median Household Income
$37,288
Median Earnings
$805
Median Rent
$78,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
NNN property - Operating restaurant property backed by a long-term triple-net lease with scheduled annual rent increases.
Where is this nnn property located?
The property is located at 3217 Vermilion Street Danville, IL.
What are key features of this property?
This property features: Approximately 8,565 square feet of building area; Approximately 1.42 acres of land; 25‑year triple‑net lease with 22 years remaining
