821 Lynnhaven Pkwy, Virginia Beach, VA

Listing agent Lyle Alper Show Phone

Listing office Vanderbilt Realty Show Phone

Listing date Aug 22, 2025

Source Moodyscre

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Overview

This property, currently operating as a Red Lobster restaurant, is available for purchase. The building has a size of 7,370 square feet and is situated on a 1.45-acre lot. The lease is guaranteed by Red Lobster under a NNN lease agreement. The property generates an annual rent of $327,761, with 2% annual increases, and has a cap rate of 5.25%.

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Virginia Beach

County

Virginia Beach

State

Virginia

Longitude

-76.0697

Latitude

36.813

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FAQs

What type of property is this?

Conventional restaurant - NNN Red Lobster with 5.25% cap rate for sale.

Where is this conventional restaurant located?

The property is located at 821 Lynnhaven Pkwy Virginia Beach, VA.

What is the asking price?

The asking price for this property is $6,240,000.

What are key features of this property?

This property features: NNN Red Lobster Guarantor; Annual Rent: $327,761; Cap Rate: 5.25%