Asking Price: $2,800,000
CAP Rate: 5.0%
- Prominently positioned: New 2017 construction at a signalized intersection (63K+ combined ADT) and located within a major retail corridor approximately 1 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 approximately 1K 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, which provides 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: 152K+ people with an average household income of $59K+ live within 5 miles of the property.
- There are no features available