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 (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

$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:

10 Years

Status:

Active

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
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