Sale Price: $2,731,700
Cap Rate: 5.13%
- Prominently positioned: New 2017 construction at a signalized intersection (more than 63,000 combined ADT) and located within a major retail corridor approximately one mile from Cordova Mall, the preeminent shopping center in Northwest Florida (836,000 square feet of retail space).
- Established, recognized tenant: Outback Steakhouse is an Australian-inspired steakhouse restaurant beloved worldwide with approximately 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. No state income tax in Florida provides a low tax burden for the investor.
- Excellent location: Pensacola is the principal city of the Pensacola metropolitan area (more than 461,000 residents) and is home to some of the most beautiful beaches in the world. Tourism in the Pensacola Bay area brings in about $552 million annually.
- Large trade area: More than 152,000 people with an average household income in excess of $59,000 live within five miles of the property.
- There are no features available