Red Lobster 

5034 50th Street | Lubbock, Texas 79414
Offering Memorandum
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​Contact Brokers

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Reid Thedford
Investment Advisor
Reid.Thedford@MarcusMillichap.com
(O) 813-387-4726
FL #SL3442474

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Jim Shiebler, CCIM, CEC

First Vice President Investments

Jim.Shiebler@MarcusMillichap.com

(O) 239.340.7811
FL #SL3347780

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James Garner, CCIM
First Vice President Investments
James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL3273659

​Highlights

  • Iconic Brand - Red Lobster is the Largest Seafood Restaurant Concept in the World

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  • 2% Annual Compounded Rent Increases - Far Outpacing Cost of Living and Inflation Increases

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  • Enormous Density - 17,363 Population (1 mile) | 112,853 Population (3 mile) | 224,672 Population (5 mile)

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  • 66,000+ Combined Traffic Count - 50th Street & Slide Road

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  • Strategically Located within 1 mile of the Intersecting Interstates - 62 & 289 with a Combined Traffic Count of 118,000+ Cars Per Day

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  • Newly Reimaged Exterior - Demonstrating Tenants Long-Term Dedication to the Location

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  • High Affluence - $71,000+ Household Income (3 miles)

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  • Texas is an Income Tax-Free State Providing Additional Value for Investors

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  • Texas Tech University 4 Miles from Subject Property - In Fall 2020, 40,000+ Students were Enrolled in the University | Boasting its 12th Consecutive Year of Record Enrollment | 1,600+ Full-Time and Part-Time Faculty

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  • Fee-Simple Property Allowing for Investor Depreciation

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  • Huge Parking Lot - 110 Parking Spaces

​Description

Marcus & Millichap is pleased to present Red Lobster, a truly rare investment opportunity for an investor to purchase a truly iconic brand with a proven track record of success in a quickly growing submarket of Lubbock, TX. This unique investment opportunity is ideally positioned in a very densely populated location: 17,363 Population (1 mile) | 112,853 Population (3 mile) | 224,672 Population (5 mile). Additionally, this dense infill, high barrier to entry location is on 50th Street, which sees over 66,000 Cars Per Day. The location has a long operating history with a growing built in customer base and is strategically located within 1 mile of the intersecting Interstates 62 & 289 with a Combined Traffic Count of 118,000+ Cars Per Day. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location.