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Views: 73 DOM: 129 Updated: 10.10.24 Posted: 08.14.24 Status: Active

Summary

Price $2,724,600
Built/Renov 2001
Tenant Outback Steakhouse
Cap Rate 6.35%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 6,205
Lease Start 03-01-2017
#Units 935
Price/SF $439.10
Expiration 02-28-2037
Tenant Type Casual Dining
NOI $173,011
R. Term 12.2
Ownership Fee Simple
Rent/SF $27.88
Increases 1.8%/1/yrs
Pop 5Mi 62,152
Lot/AC 1.52
Options 3/5yrs/1.8%
AHHI 5Mi $74,072

Lease Highlights

  • Outback Steakhouse has 12+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 1.8% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NASDAQ: BLMN)

Location Description

Outback Steakhouse is strategically located at the hard corner intersection of S Rangeline Road and E 36th Street, with access to a combined daily traffic count of 13,296 vehicles. The property is situated half a mile south of the on-ramp to Interstate 44, which sees 21,055 vehicles per day, and serves as an outparcel to Sam’s Club. It is immediately adjacent to Drury Inn & Suites, Hampton...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Outback Steakhouse is a chain of Australian-themed casual dining restaurants, serving American cuisine. Best known for grilled steaks, chicken, and seafood, Outback also offers a wide variety of...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 3,314 33,271 63,150
2024 Total Population : 2,904 32,582 62,136
2024 Employed Civilian Pop : 1,458 15,584 29,797
2024 Total Businesses : 305 1,983 3,229
2024 Average Household Income : $ 71,524 $ 69,994 $ 71,828
2024 Total Consumer Spending : $ 86 M $ 868 M $ 1669 M
2024 Median Age : 40 37 37
2024 Total Households : 1,377 13,983 26,145
2024 Pop Age 25+: Bachelor's Degree : 412 4,051 7,460
2024 Average Home Value : $ 187,609 $ 218,191 $ 218,985
*ESRI data is presented for informational purposes only

Listing Broker

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