Red Lobster Absolute NNN
For Sale
$5,250,000
3451 E Main St, Farmington, NM 87402
Freestanding 1996 Red Lobster operates under an absolute NNN lease with corporate guarantee and no landlord maintenance responsibilities.
Property Size6,014 SF
Lot Size1.36 Acres
Price / SF$872.96
Days on Market81
Property Features for 3451 E Main St
General Information
Standard status
Active
Size
6,014 SF
Lot size
1.36 Acres
Property subtype
Restaurant
Lease Type
Absolute Net
Amenities
Corporate Guaranteed Absolute NNN Lease with 13 Years Remaining – 2% Annual Rent Bumps
High Performing Restaurant – Placer.ai Ranks the Site 94th Percentile or the 28th Busiest Restaurant Out of 515 Sites Nationally
Low Rent-to-Sales Ratio and Strong Reported Sales (See Agent for More Details)
Ideal Location Directly Across from Safeway Anchored Grocery Center and Home Depot Anchored Power Center
Main Street Sees Over 37,000 Vehicles Daily
Building Details
Building Size
6,014 SF
Year Built
1996
Tenancy
Single
Listing Agency:
Marcus & Millichap - Seattle
(206) 826-5730
Listed By:
Hank Wolfer · License #License(s): WA: 110547
(206) 826-5730
Source:
Marcusmillichap
Added: Jun 4
Changed: Aug 23
Last Checked: Aug 22 at 3:31PM
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 Marcus & Millichap - Seattle
Investment Insights
Based on property information with market context.
This property is a freestanding Red Lobster restaurant building built in 1996. The current lease is described as an absolute NNN structure where the landlord has no maintenance or repair responsibilities whatsoever. The corporate guaranteed lease has 13 years remaining and expires July 31, 2039, with 2% annual rent bumps. The lease also includes four 5-year renewal options.
The building is located along Main Street and sits directly across from a Safeway-anchored grocery center and a Home Depot power center.
The offering includes a 6,014 square foot building on a 1.36 acre parcel.
The building is located along Main Street and sits directly across from a Safeway-anchored grocery center and a Home Depot power center.
The offering includes a 6,014 square foot building on a 1.36 acre parcel.
Key Highlights
- Freestanding Red Lobster on a 1.36‑acre parcel with a 6,014 SF building
- Absolute NNN lease structure: landlord has no maintenance or repairs responsibilities whatsoever
- Corporate guaranteed lease has 13 years remaining and expires July 31, 2039
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
556k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 30%
Dining 25%
Home Improvements & Furnishings 14%
Apparel 14%
T.J. Maxx
Apparel
59,405 visits/mo
0.3 miles
Hobby Lobby
Shops & Services
52,522 visits/mo
0.3 miles
Safeway
Groceries
47,094 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
44,035 visits/mo
0.4 miles
Best Buy
Electronics
30,994 visits/mo
0.2 miles
Demographics for 87402, NM
11,646
Population
4,146
Households
2.8
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
15.5 sq mi
ZIP Area
751
Density / Sq Mi
$76,992
Median Household Income
$43,958
Median Earnings
$1,042
Median Rent
$269,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding 1996 Red Lobster operates under an absolute NNN lease with corporate guarantee and no landlord maintenance responsibilities.
Where is this conventional restaurant located?
The property is located at 3451 E Main St Farmington, NM.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Freestanding Red Lobster on a 1.36‑acre parcel with a 6,014 SF building; Absolute NNN lease structure: landlord has no maintenance or repairs responsibilities whatsoever; Corporate guaranteed lease has 13 years remaining and expires July 31, 2039
