Carrabba's Italian Grill

3754 Crain Highway, Waldorf, MD 20602

$5,204,020

Cap Rate 6.65%

Views: 105 DOM: 445 Updated: 09.12.24 Posted: 07.01.23 Status: Active

Summary

Price $5,204,020	Built/Renov 2007	Tenant Carrabba's Italian Grill
Cap Rate 6.65%	Lease Type Abs NNN	Guarantor Corp Rated
Size/SF 6,187	Lease Start 03-14-2012	#Units 217
Price/SF $841.12	Expiration 03-31-2032	Tenant Type Casual Dining
NOI $346,067	R. Term 7.6	Ownership Fee Simple
Rent/SF $54.97	Increases 1.8%/1/yrs	Pop 5Mi 98,771
Lot/AC 1.21	Options 4/5yrs/1.75%	AHHI 5Mi $137,094

Lease Highlights

Carrabba’s Italian Grill has been operating in this location since 2012
Tenant has 7+ years remaining on the current lease term with 4 (5-year) options to extend
Lease features 1.75% annual rental increases throughout the initial term and during each option
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee by Bloomin' Brands (NASDAQ: BLMN)

Location Description

Carrabba’s Italian Grill is located along Crain Highway, a major thoroughfare, seeing over 55,000 vehicles per day. This 6,187 square foot site is situated on a 1.21 acre parcel with neighboring tenants including Cracker Barrel and Hampton Inn (100 rooms) providing a direct consumer base for the site to draw from. Additional national/credit tenants in the area include Dollar Tree, Big Lots,...

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Key Features

In location for years
High traffic 50M+ VPD
Dense retail corridor
Highway location
Top 100 MSA
Strong demographics
Absolute NNN
Annual rent increases
Traded and rated company
Corporate Guarantee

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Links

Carrabba's Italian Grill Wikipedia Carrabba's Italian Grill Wikipedia Waldorf, Maryland Zip Code 20602 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Carrabba's Italian Grill
Guarantor:Corp Rated
Company:Bloomin' Brands, Inc.
# Units:217
Tenant S&P: BB-
Moody’s: Ba3
Stock: NASDAQ: BLMN

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 :	8,717	69,064	103,783
2023 Total Population :	8,499	67,180	100,255
2023 Employed Civilian Pop :	4,717	35,174	51,869
2023 Total Businesses :	456	2,511	3,184
2023 Average Household Income :	$ 126,979	$ 128,240	$ 132,821
2023 Total Consumer Spending :	$ 347 M	$ 2673 M	$ 4023 M
2023 Median Age :	36	35	36
2023 Total Households :	3,237	24,517	35,753
2023 Pop Age 25+: Bachelor's Degree :	1,190	9,542	13,819
2023 Average Home Value :	$ 322,323	$ 376,791	$ 388,399

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Crain Highway		2018	38,040	0.14 mi
Smallwood Drive West		2017	16,482	0.29 mi
Old Washington Road	Smallwood Dr	2020	7,232	0.33 mi
Copley Ave	Stoddert Ave	2018	3,320	0.47 mi
Crain Hwy	Smallwood Dr	2000	53,250	0.53 mi
Smallwood Dr W	Saint Patricks Dr	2003	16,988	0.53 mi
Crain Hwy	Billingsley Rd	2008	39,163	0.60 mi
Smallwood Dr	Prentiss Rd	2020	13,162	0.64 mi
Copley Ave	Acadia Rd	2020	2,772	0.64 mi
St Patricks Dr	Marketgate Pl	2020	14,785	0.70 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

128 Listings
12776 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

128 Listings
12949 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

130 Listings
12979 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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