Outback Steakhouse

501 East Loop 281, Longview, TX 75605

$3,669,063

Cap Rate 5.50%

Views: 81 Updated: 11.24.23 Posted: 09.09.23 Status: Sold

Summary

Price $3,669,063	Built/Renov 1996	Tenant Outback Steakhouse
Cap Rate 5.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 6,200	Lease Start 03-13-2015	#Units 1,001
Price/SF $591.78	Expiration 02-28-2035	Tenant Type Casual Dining
NOI $201,798	R. Term 10.0	Ownership Fee Simple
Rent/SF $32.55	Increases 1.8%/1/yrs	Pop 5Mi 78,586
Lot/AC 1.04	Options 3/5yrs/1.8%	AHHI 5Mi $87,959

Lease Highlights

Outback has 11+ years remaining on the current lease term with 3 (5-year) options to extend
Lease features 1.8% annual rental increases throughout the initial term and during each option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by Bloomin' Brands (NASDAQ: BLMN)

Location Description

This Outback is located on the hard corner, signalized intersection of East Loop 281 (32,456 VPD) and North Fourth Street (16,734 VPD), and is less than a half mile from the on-ramp to US Highway 259 (22,585 VPD ). The site benefits from being an outparcel to a shopping center, anchored by Walmart Supercenter and Sam’s Club and further occupied by Chick-fil-A, Wendy’s, Whataburger, and many...

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Key Features

Signalized intersection
Hard corner intersection
High traffic 50M+ VPD
WalMart out-parcel
Affluent suburb location
Income tax free state
Absolute NNN
Long 10+ yr lease
Traded and rated company
Corporate Guarantee

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Links

Outback Steakhouse Wikipedia Outback Steakhouse Wikipedia Longview, Texas Zip Code 75605 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Outback Steakhouse
Guarantor:Corp T and Rated
Company:Bloomin' Brands
# Units:1,001
Tenant S&P: BB-
Moody’s: Baa3
Stock:NASDAQ: BLMN

About Tenant

Outback Steakhouse is a chain of Australian-themed casual dining restaurants, serving American cuisine. The chain specializes in a wide variety of dishes; including prime steak cuts, chicken,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	3,631	39,026	80,028
2023 Total Population :	3,560	38,390	79,228
2023 Employed Civilian Pop :	1,719	18,276	35,893
2023 Total Businesses :	460	2,311	4,183
2023 Average Household Income :	$ 78,921	$ 89,410	$ 83,939
2023 Total Consumer Spending :	$ 108 M	$ 1275 M	$ 2323 M
2023 Median Age :	47	42	39
2023 Total Households :	1,590	16,461	31,835
2023 Pop Age 25+: Bachelor's Degree :	526	6,128	10,227
2023 Average Home Value :	$ 268,549	$ 271,825	$ 241,667

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N 4th St	E Loop 281	2013	16,734	0.05 mi
East Loop 281	N 4th St	2021	27,344	0.15 mi
E Loop 281	Hotel Way	2013	32,466	0.24 mi
Oak St	Smith Dr	2013	34	0.28 mi
North Eastman Road	Wal St	2021	25,097	0.29 mi
N 4th St	Clinic	2013	14,970	0.33 mi
E Hawkins Pkwy	N 4th St	2013	13,395	0.39 mi
Airline Rd	Skyline Dr	2013	3,693	0.53 mi
Commander Dr	Airline Rd	2013	464	0.58 mi
North Eastman Road	E Loop 281	2021	19,725	0.60 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
18933 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
19053 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

135 Listings
19088 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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