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Views: 43 DOM: 96 Updated: 11.19.24 Posted: 08.17.24 Status: Active

Summary

Price $3,778,200
Built/Renov 2003
Tenant Outback Steakhouse
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 6,172
Lease Start 09-30-2016
#Units 935
Price/SF $612.15
Expiration 09-30-2036
Tenant Type Casual Dining
NOI $245,584
R. Term 11.10
Ownership Fee Simple
Rent/SF $39.79
Increases 1.8%/1/yrs
Pop 5Mi 25,764
Lot/AC 0.24
Options 3/5yrs/1.8%
AHHI 5Mi $62,361

Lease Highlights

  • 20-year operating history at this location
  • Outback Steakhouse has 11+ 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 on Factory Shops Boulevard, with access to a significant daily traffic count of 65,000 vehicles. The property is part of the Gaffney Outlet Marketplace, which features well-known national tenants such as Adidas, Aeropostale, American Eagle, Bath & Body Works, Brooks Brothers Factory, and more. It is conveniently situated right off Exit 90 on...

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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 : 182 5,746 25,806
2024 Total Population : 186 5,787 25,747
2024 Employed Civilian Pop : 78 2,365 9,274
2024 Total Businesses : 71 363 1,056
2024 Average Household Income : $ 70,250 $ 73,544 $ 63,463
2024 Total Consumer Spending : $ 4 M $ 162 M $ 588 M
2024 Median Age : 41 43 40
2024 Total Households : 67 2,477 10,340
2024 Pop Age 25+: Bachelor's Degree : 21 803 2,272
2024 Average Home Value : $ 208,333 $ 220,263 $ 204,434
*ESRI data is presented for informational purposes only

Listing Broker

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