821 Lynnhaven Pkwy Virginia Beach, VA 23452

This exceptional investment opportunity presents a fee-simple ownership of a 7,370-square-foot Red Lobster restaurant situated on a 1.45-acre lot (63,162 square feet) at 821 Lynnhaven Pkwy, Virginia Beach, VA 23452. The property is a single-tenant, net-leased (NNN) retail space, offering a secure and passive income stream. The current tenant, Red Lobster, is backed by a corporate guarantee, mitigating risk. With a remaining lease term of approximately 14.3 years (expiring February 28, 2039), this investment boasts a strong 5.60% capitalization rate and a substantial net operating income (NOI) of $327,761 annually. The lease includes 2% annual rent bumps, providing built-in growth potential. The lease structure is a triple-net lease (NNN), meaning the tenant is responsible for all operating expenses, minimizing landlord responsibilities. Four 5-year lease options are included. The property's prime location in Virginia Beach, a thriving tourist destination, further enhances its value and long-term prospects. The asking price is $5,850,000, translating to a price per square foot of $793.76. This offering represents a compelling opportunity for investors seeking a stable, high-performing retail investment with significant long-term potential. The property is currently 100% occupied.