Outback Steakhouse

300 Interstate 35E, Denton, TX 76205

$4,053,463

Cap Rate 6.00%

Views: 128 DOM: 104 Updated: 07.22.24 Posted: 09.08.23 Status: Sold 12.21.23

Summary

Price $4,053,463	Built/Renov 1995	Tenant Outback Steakhouse
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 6,849	Lease Start 03-13-2015	#Units 1,001
Price/SF $591.83	Expiration 02-28-2035	Tenant Type Casual Dining
NOI $243,208	R. Term 10.0	Ownership Fee Simple
Rent/SF $35.51	Increases 1.8%/1/yrs	Pop 5Mi 154,032
Lot/AC 1.68	Options 3/5yrs/1.8%	AHHI 5Mi $93,302

Lease Highlights

Long 28-year operating history at this location
Tenant has 11+ years of primary term remaining with 3 (5-year) renewal options
Lease features 1.8 % annual rental increases
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Outback Steakhouse is located on the corner of Sam Bass Boulevard (3,770 VPD) and the Interstate 35 Service Road (14,383 VPD), which merges onto Interstate 35 (115,400 VPD). The property is surrounded by a dense residential concentration, with 6,911 households and 3,084 multifamily units within a 1-mile radius, placing a substantial built in customer base within walking distance. It is also...

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Key Features

Freeway visibility
Dense 100M+ pop 5 mi
Top 100 MSA
Affluent suburb location
Income tax free state
Long operation history
Absolute NNN
Annual rent increases
Traded and rated company
Corporate Guarantee

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Links

Outback Steakhouse Wikipedia Outback Steakhouse Wikipedia Denton, Texas Zip Code 76205 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Outback Steakhouse
Guarantor:Corp T and Rated
Company:Bloomin' Brands
# Units:1,001
Tenant S&P: BB-
Moody’s: Baa3
Stock: NASDAQ: BLMN

About Tenant

Outback Steakhouse is a chain of Australian-themed casual dining restaurants, serving American cuisine. The chain specializes in a wide variety of dishes; including prime steak cuts, chicken,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	17,687	86,446	160,826
2023 Total Population :	16,471	81,463	148,697
2023 Employed Civilian Pop :	10,464	43,874	80,242
2023 Total Businesses :	657	3,818	5,115
2023 Average Household Income :	$ 53,456	$ 75,039	$ 93,526
2023 Total Consumer Spending :	$ 368 M	$ 2194 M	$ 4667 M
2023 Median Age :	24	28	31
2023 Total Households :	7,755	33,308	57,283
2023 Pop Age 25+: Bachelor's Degree :	2,131	12,748	25,903
2023 Average Home Value :	$ 447,489	$ 389,698	$ 354,437

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S Locust St	Acme St	2009	240	0.11 mi
S Locust St	N I- 35 E	2009	650	0.11 mi
North Interstate 35E	S I- 35 E	2021	16,150	0.14 mi
North Interstate 35E	S I- 35 E	2021	14,383	0.14 mi
	Fort Worth Dr	2021	102,993	0.14 mi
I- 35 E	Fort Worth Dr	2004	9,882	0.16 mi
Meadow St	Inman St	2009	1,220	0.18 mi
Fort Worth Drive	Acme St	2021	28,226	0.20 mi
Fort Worth Drive	Lindsey St	2020	25,960	0.20 mi
Meadow St	Inman St	2004	1,570	0.24 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
18932 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
19052 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
19087 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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