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Views: 113 DOM: 31 Updated: 09.13.24 Posted: 08.20.24 Status: Active

Summary

Price $4,333,000
Built/Renov 2024
Tenant Outback Steakhouse (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,964
Lease Start 10-01-2024
#Units 935
Price/SF $872.88
Expiration 10-01-2039
Tenant Type Casual Dining
NOI $195,000
R. Term 15.0
Ownership Ground Lease
Rent/SF $39.28
Increases 10.0%/5/yrs
Pop 5Mi 76,135
Lot/AC 1.11
Options 4/5yrs/10%
AHHI 5Mi $100,284

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year ground lease with 4 (5-year) options to extend
  • The lease features 10% 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 at the signalized, hard corner intersection of Osceola Polk Line Road and Heritage Pass, with access to a combined daily traffic count of 40,000 vehicles. The property is an outparcel to the newly constructed Legacy Union Square Apartments and is just 15 miles from Walt Disney World Resort, which attracts over 58 million visitors annually. It is also...

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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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