Lowest cap rate over past 24 months
12 mo avg with 5+ yr lease term
|Average Sale Price||$3,000,000 - $6,750,000|
|Average NOI||$175,000 - $400,000|
|Lease Term||20 - 25 Years|
With over 678 seafood restaurants across the United States as of 2015, Red Lobster is one of the most popular chains in the casual-dining industry. Darden Restaurants, Inc. officially sold their namesake in 2014 and is now privately held.
Originally founded in Lakeland, FL by Bill Darden in 1968, they were financially supported by the well-known company General Mills. Once this happened, they expanded rapidly to all 50 states.
Earlier on in business operations, they were keeping menus simple and focusing purely on fresh lobster, crab, and shrimp selections. Eventually, Red Lobster started adding new dishes, from an assortment of grilled wild fish and Maine Lobster courses to their famous Cheddar Bay Biscuits.
|Number of Locations||749|
|Key Principal||Kelli Valade|