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Views: 53 DOM: 129 Updated: 10.10.24 Posted: 08.14.24 Status: Active

Summary

Price $4,487,300
Built/Renov 2001
Tenant Outback Steakhouse
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 6,174
Lease Start 03-01-2017
#Units 935
Price/SF $726.81
Expiration 02-28-2037
Tenant Type Casual Dining
NOI $269,238
R. Term 12.2
Ownership Fee Simple
Rent/SF $43.61
Increases 1.8%/1/yrs
Pop 5Mi 32,991
Lot/AC 3.33
Options 3/5yrs/1.8%
AHHI 5Mi $58,392

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 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 Highway 44 West, with access to 29,400 vehicles passing by daily. The property is ideally positioned directly in front of a medical office building, adjacent to a Chevrolet dealership, and across Highway 44 West from RaceTrac, Starbucks, and the newly constructed Colonnade Park Apartments. It is surrounded by key retail destinations, including 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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 2,038 17,666 34,256
2024 Total Population : 1,961 17,029 33,014
2024 Employed Civilian Pop : 721 6,074 11,258
2024 Total Businesses : 221 1,054 1,376
2024 Average Household Income : $ 57,545 $ 57,733 $ 65,414
2024 Total Consumer Spending : $ 52 M $ 400 M $ 881 M
2024 Median Age : 53 52 55
2024 Total Households : 1,024 7,727 15,035
2024 Pop Age 25+: Bachelor's Degree : 208 1,541 3,159
2024 Average Home Value : $ 235,969 $ 226,540 $ 271,779
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Hwy 44 Crystal Blvd 2005 38,500 0.54 mi
Gulf to Lake Highway S Prospect Ter 2022 29,500 0.71 mi
Main Street S Montgomery Ave 2022 30,500 0.82 mi
Florida Avenue Montgomery Ave 2022 18,200 0.91 mi
Main Street Ella Ave 2022 30,000 1.18 mi
Ella Ave 2022 6,500 1.20 mi
W Main St Cherry Ave 2005 37,000 1.31 mi
Main Street E Gulf To Lake H 2022 39,000 1.42 mi
North Independence Highway E Ryan St 2022 6,500 1.55 mi
Florida Avenue E Tile Ct 2022 14,100 1.65 mi

Listing Broker

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