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Views: 25 DOM: 31 Updated: 08.27.24 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 12.0
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 escalations 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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Listing Broker

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