ASKING PRICE: $2,800,000
CAP RATE: 5.0%
- PROMINENTLY POSITIONED — New 2017 construction at a signalized intersection (combined 63K+ cars ADT); located within major retail corridor approximately one mile from Cordova Mall, the preeminent shopping center in Northwest Florida (836K SF).
- ESTABLISHED, RECOGNIZED TENANT — Outback Steakhouse is an Australian-inspired steakhouse restaurant beloved worldwide with about 1,000 locations in 23 countries throughout North and South America, Europe, Asia and Australia. Outback Steakhouse’s parent company, Bloomin’ Brands, Inc., is a company of restaurants that owns and operates Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar.
- ABSOLUTE NNN ATTRACTIVE INVESTMENT — New 10-year corporate lease with fixed rent increases and no landlord responsibilities; Florida has no state income tax providing a low tax burden for the investor.
- EXCELLENT LOCATION — Pensacola is the principal city of the Pensacola metropolitan area (461K+ residents) and is home to some of the most beautiful beaches in the world. Tourism in the Pensacola Bay area brings in about $552M annually.
- LARGE TRADE AREA — Over 152,000 people, with an average household income of $59K+, within five miles of the property.
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