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Views: 132 DOM: 503 Updated: 10.10.24 Posted: 07.01.23 Status: Active

Summary

Price $4,338,810
Built/Renov 2002
Tenant Carrabba's Italian Grill
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 7,083
Lease Start 03-14-2012
#Units 217
Price/SF $612.57
Expiration 03-31-2032
Tenant Type Casual Dining
NOI $303,716
R. Term 7.4
Ownership Fee Simple
Rent/SF $42.14
Increases 1.8%/1/yrs
Pop 5Mi 120,526
Lot/AC 3.22
Options 4/5yrs/1.75%
AHHI 5Mi $96,978

Lease Highlights

  • Long operating history with strong store sales | Since 2019, sales have increased 37%
  • Tenant has 7+ years remaining on its current lease term with 4 (5-year) options to extend
  • Annual rent increases by the lesser of 1.75% or 1.7 times the CPI increase
  • Absolute NNN lease | Zero Landlord Responsibilities
  • Corporate guarantee by Bloomin' Brands (NASDAQ: BLMN)

Location Description

Carrabba’s Italian Grill is located along Briarfield Blvd with traffic counts of 7,008 vehicles per day. The subject property is positioned less than 9.5 miles southwest of downtown Toledo and a half mile from interchange of Salisbury Road (16,257 VPD) and Interstate 475 (72,426 VPD). Carrabba’s is part of a shopping center with Best Western, Urban Pine Winery, the 3355 Briarfield strip center...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Carrabba's Italian Grill (or simply Carrabba’s) is an American restaurant chain featuring Italian-American cuisine, and is the second largest Italian themed restaurant chain in the United...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,000 45,360 120,088
2023 Total Population : 2,038 45,875 120,901
2023 Employed Civilian Pop : 1,056 23,406 60,507
2023 Total Businesses : 523 2,391 4,585
2023 Average Household Income : $ 121,069 $ 100,892 $ 98,842
2023 Total Consumer Spending : $ 91 M $ 1773 M $ 4437 M
2023 Median Age : 46 42 42
2023 Total Households : 897 20,397 52,057
2023 Pop Age 25+: Bachelor's Degree : 413 8,699 22,026
2023 Average Home Value : $ 290,932 $ 242,626 $ 237,634
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
RAMP FROM SALISBURY RD TO IR475 SB Salisbury Rd 2021 3,110 0.09 mi
RAMP FROM SALISBURY RD TO IR475 SB Salisbury Rd 2020 2,738 0.09 mi
Briarfield Blvd Wheatstone Ct 2018 9,275 0.11 mi
RAMP FROM SALISBURY RD E TO IR 475 N Dussel Dr 2020 3,249 0.13 mi
RAMP FROM SALISBURY RD E TO IR 475 N 2021 3,691 0.13 mi
RAMP FROM IR475 NB TO SALISBURY RD Salisbury Rd 2021 6,170 0.14 mi
SALISBURY RD I- 475 2020 13,612 0.15 mi
Salisbury Rd Brandyway Ln 2011 9,300 0.17 mi
RAMP FROM SALISBURY RD W TO IR 475 S Salisbury Rd 2021 2,582 0.18 mi
RAMP FROM SALISBURY RD TO IR475 NB Salisbury Rd 2020 6,184 0.23 mi

Listing Broker

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