Red Robin NNN Property For Sale — Sioux City, IA
4900 Sergeant Road, Sioux City, IA 51106
This offering features a single-tenant Absolute NNN Red Robin Ground Lease. The tenant has 11 years remaining on the lease with 10% rent increases every 5 years. Red Robin demonstrated a commitment to this location by signing a 10-year lease extension in 2019 and plans to renovate the interior in 2020. The lease is corporate guaranteed by Red Robin (NASDAQ: RRGB), a nationally recognized brand with 565 locations across the U.S. and Canada. This property is a pad site within Lakeport Commons, Sioux City’s dominant power center, which, combined with the neighboring mall, accounts for 60% of all retail activity in Sioux City. Sioux City is a premier shopping destination for the region, attracting over 170,000 people from the tri-state area of Iowa, Nebraska, and South Dakota. The area boasts…
- Address: 4900 Sergeant Road, Sioux City, IA 51106
- Asking price $2.12M
- 6.00% cap rate
- NOI $127,050
- 11 years remaining
- NNN lease
- Building size: 6,350 SF
- Lot size: 1.66 acres
- Rent increases: 10% increases every 5 years
- Guarantor: Corporate
Location
This Red Robin property is at 4900 Sergeant Road in Sioux City, Iowa.
Asset type: Retail