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Views: 17 DOM: 20 Updated: 08.28.24 Posted: 08.27.24 Status: Active

Summary

Price $2,306,800
Built/Renov 2000
Tenant Outback Steakhouse
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 6,320
Lease Start 03-01-2017
#Units 935
Price/SF $365.00
Expiration 02-28-2037
Tenant Type Casual Dining
NOI $149,943
R. Term 12.5
Ownership Fee Simple
Rent/SF $23.73
Increases 1.8%/1/yrs
Pop 5Mi 52,142
Lot/AC 1.81
Options 3/5yrs/1.8%
AHHI 5Mi $91,299

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 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 Hampton Court, with 6,400 vehicles passing by daily. The property is within one mile of US-16 (27,800 VPD) and the on-ramp to Interstate 90 (36,900 VPD). Additionally, Hampton Inn, Manny’s Cocina, and Ciatti’s Italian Grill are immediately adjacent to the site. The surrounding area features well-known national tenants, including Walmart...

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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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