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Views: 136 DOM: 282 Updated: 10.21.24 Posted: 02.06.24 Status: Active

Summary

Price $4,745,000
Built/Renov 1994
Tenant Outback Steakhouse
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 6,115
Lease Start 05-18-2016
#Units 935
Price/SF $775.96
Expiration 05-31-2031
Tenant Type Casual Dining
NOI $249,132
R. Term 6.6
Ownership Fee Simple
Rent/SF $40.74
Increases 1.0%/1/yrs
Pop 5Mi 74,028
Lot/AC 1.72
Options 4/5yrs/1%
AHHI 5Mi $100,677

Lease Highlights

  • Outback Steakhouse has 6+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1% annual rental increases throughout the initial term and each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NASDAQ: BLMN)

Location Description

Outback Steakhouse is strategically located along Florida State Road 312, with access to 38,500 vehicles passing by daily. The property boasts excellent access from Dixie Highway, with a traffic count of 41,900 VPD. Moreover, it holds a prime location within St. Augustine's premier retail corridor, featuring a variety of well-known national retailers including Walmart Supercenter, Target, The...

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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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Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Hwy 312 Coke Rd 2018 38,500 0.05 mi
Dixie Hwy Southpark Blvd 2010 40,241 0.24 mi
Dixie Hwy Hwy 312 2010 36,262 0.25 mi
State Hwy 312 Dixie Hwy 2010 27,150 0.27 mi
State Hwy 312 Coke Rd 2010 35,000 0.34 mi
Southpark Blvd Southpark Cir E 2010 4,543 0.37 mi
Old Moultrie Rd Jenkins St 2010 19,937 0.39 mi
State Hwy 312 Old Moultrie Rd 2007 23,000 0.41 mi
FL 312 Old Moultrie Rd 2021 25,500 0.41 mi
Old Moultrie Rd Hwy 312 2019 7,900 0.41 mi

Listing Broker

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