Map of Property

Red Lobster

For Sale

1956 W Broad St, Athens, GA 30606

This Athens property for sale is located at 1956 W Broad St. The current listed sale price for Red Lobster is $5,900,000. Red Lobster is situated on a lot that is 1.79 acre in size.

Contacts

broker

Brandon Abdelnour

Encore Real Estate Investment Services

(248) 702-0291

Property Details

  • Property Type Retail - Freestanding
  • Property Size 7,236 SF
  • Lot Size 1.79 Acre
  • Year Built 1973
  • Year Renovated 2001
  • Date Updated Mar 7, 2024
Vacancy in the Athens retail market is 3.1% and has decreased 3.1% over the past 12 months. During this period, 450,000 SF has been absorbed, and 86,000 SF has delivered. Total availability, which includes sublease space, is 3.3% of all inventory. Within this market, General Retail is the largest subtype, with 6.2 million SF in this category. Rents are around $19.40/SF, which is a 4.4% increase from where they were a year ago. In the past three years, rents have increased a cumulative 14.8%. There is nothing currently under construction. In the past 12 months, 56 sales have taken place. Sales have averaged $220/SF, and the estimated value for the market as a whole is $185/SF. Over the past three years, there have been 223 sales, which have traded for approximately $247 million. The market cap rate for Athens is 7.2%, slightly below its trailing three-year average of 7.4%. Although both employment and population have grown in the past year, employment growth has outpaced population growth. The number of jobs has increased 4.8% in the past year, while the population has grown by 0.5%..

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Highlights

  • Absolute NNN Lease: Zero landlord responsibilities.
  • Long Lease Term: 16 years remaining in the original lease term, ensuring stability and consistent income.
  • Annual Rent Increases : 2% annual increases provide built-in inflation protection for your investment.
  • Corporate Guarantee: Backed by the reliability of a corporate guarantee, offering financial security.
  • High Population Density: Located within a five-mile radius of 110,765 residents, ensuring a steady customer base.
  • Vibrant College Town: Athens consistently ranks among America's best college towns, attracting a young and energetic demographic.
  • Prime Location: Excellent visibility with a high traffic count of over 24,600 cars per day on W Broad St.

Getting around

  • 68/100

    Walk Score ®

  • 65/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Athens, GA
  • Neighborhood Athens
  • Zip Code 30606

Points of Interest

  • Marathon

    0.09 miles

  • Shell

    0.68 miles

  • Texaco

    0.85 miles

  • Shell

    0.89 miles

  • Valero’s

    1.07 miles

  • Golden Pantry

    1.24 miles

  • Shell

    1.30 miles

  • Chevron

    1.31 miles

  • RaceTrac

    1.45 miles

  • ChargePoint

    1.54 miles

  • Talmadge Parking

    0.70 miles

  • Prince Parking

    0.77 miles

  • Visitor Parking

    0.79 miles

  • W14

    0.82 miles

  • W08

    1.12 miles

  • W07

    1.16 miles

  • West Campus Deck

    1.25 miles

  • W10

    1.26 miles

  • W07

    1.27 miles

  • W15

    1.33 miles

  • Red Lobster

    0.00 miles

  • Food for the Soul

    0.08 miles

  • Steak 'n Shake

    0.08 miles

  • Tamez BBQ

    0.25 miles

  • LongHorn Steakhouse

    0.30 miles

  • Checkers

    0.38 miles

  • Internation House of Pancakes

    0.38 miles

  • Taco Bell

    0.38 miles

  • Chipotle

    0.45 miles

  • Subway

    0.46 miles

  • Kroger

    0.42 miles

  • Earth Fare

    1.35 miles

  • Bells Supermarket

    1.42 miles

  • Target

    1.58 miles

  • Lay-Z-Shopper Convenience Store

    1.73 miles

  • Target

    2.29 miles

  • Walmart Neighborhood Market

    2.45 miles

  • ALDI

    2.94 miles

  • Publix

    3.10 miles

  • Kohl's

    3.12 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Brandon Abdelnour

Encore Real Estate Investment Services

(248) 702-0291