Red Lobster
5034 50th Street | Lubbock, Texas 79414
Contact Brokers
Reid Thedford
Investment Advisor
Reid.Thedford@MarcusMillichap.com
(O) 813-387-4726
FL #SL3442474
Jim Shiebler
First Vice President Investments
Jim.Shiebler@MarcusMillichap.com
(O) 239.340.7811
FL #SL3347780
James Garner
First Vice President Investments
James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL3273659
Highlights
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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.