ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Outback Steakhouse – Pensacola, FL – Ground Lease

Airport Boulevard

ASKING PRICE: $2,800,000
CAP RATE: 5.0%

PROPERTY HIGHLIGHTS:

  • 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.
  • There are no features available

$2,800,000

7,270 SF

Price:

$2,800,000

Cap Rate:

5.0%

Building Size:

7,270 SF

SF Land Area:

1.36 acres

Current NOI:

$140,000

Lease Type:

Ground

Remaining Term:

Ten (10) Years

Status:

Active

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
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