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5015 Kietzke Ln
Reno, NV 89511 Outer Old Southwest Reno

$5,200,000 USD

Restaurant For Sale  •  7,303 SF

Property Details

  • Property Type Restaurant
  • Total Building Size 7,303 SF
  • Lot Size 1.29 AC
  • Building Class B
  • Year Built 2007
  • Cap Rate 6.51 %
  • Tenancy Single
  • Zoning PD
30 Transit Score
70 Walk Score

Highlights

Corporate guarantee by Red Lobster Hospitality LLC - Recent 5-year extension demonstrates Red Lobster’s commitment to the site
Absolute NNN lease, no landlord responsibilities - Passive and management-free asset for investor
Long-term lease with over 23.5 years remaining due to a recent 5- year extension with 4 (5-year) options to extend
The lease features a rent increase of 5% in August, 2026 and increases 2% annually for the remaining term, compounding NOI and hedging inflation
Excellent location as a pad to a Lowe’s Home Improvement at the southwest corner of S. McCarran Blvd (39,100 VPD) and Kietzke Lane (25,700 VPD)
Within 1 block of the on/off ramps to Interstate 580 (132,000 VPD), the main north/south highway going through Reno
Cap Rate: 6.51 %

Major Tenants

Tenant SF Occupied Lease End Date
Red Lobster 7,303 SF 10/31/2049

Amenities

  • Bus Line
  • Dedicated Turn Lane
  • Restaurant
  • Signage
  • Signalized Intersection

Public Transportation

Commuter RailDriveWalkDistance
Reno (California Zephyr - Amtrak) 10 min - 4.0 mi
AirportDriveWalkDistance
Reno/Tahoe International 23 min - 5.9 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 70
Type: Surface
Included in Rent: Yes
Michael Cisternino 925-388-0888 Essential Capital Advisors
Michael Cisternino 925-388-0888 Essential Capital Advisors