Outback Steakhouse

4142 Ridgemont Drive, Abilene, TX 79606

$3,506,900

Cap Rate 6.25%

Views: 24 DOM: 35 Updated: 08.27.24 Posted: 08.14.24 Status: Active

Summary

Price $3,506,900	Built/Renov 1999	Tenant Outback Steakhouse
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 6,172	Lease Start 09-30-2016	#Units 935
Price/SF $568.20	Expiration 09-30-2036	Tenant Type Casual Dining
NOI $219,179	R. Term 12.0	Ownership Fee Simple
Rent/SF $35.51	Increases 1.8%/1/yrs	Pop 5Mi 101,710
Lot/AC 1.53	Options 3/5yrs/1.8%	AHHI 5Mi $77,633

Lease Highlights

Outback Steakhouse has 11+ 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 Ridgemont Drive, with access to a daily traffic count of 11,238 vehicles. The property is less than a mile from US-83, which sees 33,876 vehicles per day, and is an outparcel to a Lowe’s-anchored shopping center. Additionally, it is directly across Ridgemont Drive from the Mall of Abilene, which is anchored by JCPenney, Dillard’s, Best Buy, and...

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Key Features

Build to suit
Dense retail corridor
Shopping Ctr out-parcel
Strong demographics
Income tax free state
Absolute NNN
Long 10+ yr lease
Annual rent increases
Traded and rated company
Corporate Guarantee

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Links

Outback Steakhouse Wikipedia Outback Steakhouse Wikipedia Abilene, Texas Zip Code 79606 Broker Site Page Portfolio Properties Link

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Outback Steakhouse
Guarantor:Corp T and Rated
Company:Bloomin' Brands, Inc.
# Units:935
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. 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
2028 Total Population :	9,040	52,391	103,450
2023 Total Population :	9,154	52,162	102,470
2023 Employed Civilian Pop :	4,499	25,266	47,649
2023 Total Businesses :	592	2,158	4,207
2023 Average Household Income :	$ 76,069	$ 78,164	$ 76,782
2023 Total Consumer Spending :	$ 279 M	$ 1446 M	$ 2680 M
2023 Median Age :	38	37	36
2023 Total Households :	4,219	21,295	40,117
2023 Pop Age 25+: Bachelor's Degree :	1,689	7,832	13,576
2023 Average Home Value :	$ 219,203	$ 214,009	$ 207,329

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Rolling Green Dr	Ridgemont Dr	2005	3,730	0.05 mi
Ridgemont Dr	Turner Dr	2005	13,430	0.07 mi
Ridgemont Dr	Rolling Green Dr	2005	12,080	0.12 mi
John Knox Dr	Ridgemont Dr	2005	5,920	0.18 mi
Bruce Dr	Lily Ct	2000	1,360	0.25 mi
Ridgemont Drive	Rebecca Ln	2021	8,507	0.33 mi
Ridgemont Drive	S Clack St	2020	7,462	0.33 mi
	Ridgemont Dr	2021	13,350	0.34 mi
Buffalo Gap Rd	Arrowhead Dr	2005	26,840	0.36 mi
Bruce Dr	Carnation Ct	2000	1,330	0.36 mi

Listing Broker

Brian Pfohl

CBRE: NLPG Atlanta

Contact

128 Listings
12990 Views
60 Sold

Chris Bosworth

CBRE: NLPG Atlanta

Contact

128 Listings
12818 Views
62 Sold

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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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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Thomas Carr

CBRE: NLPG Atlanta

Contact

130 Listings
13020 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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