4221 S Padre Island Dr - Restaurant FOR SALE


Corpus Christi, TX 78411- South Side
$1,961,728 USD
925-348-1844
4221 S Padre Island Dr, Corpus Christi, TX for Sale
$1,961,728 USD
Restaurant - FOR SALE
1/2
null | 4.5% Cap Rate

4221 S Padre Island Dr
Corpus Christi, TX 78411
South Side


HIGHLIGHTS

  • Absolute NNN Ground Lease – Zero Landlord Responsibilities
  • Corporate Guarantee – Leased to Outback Steakhouse, a Leading Full-Service Restaurant Brand with 1K+ Locations in 23 Countries and $3.95B in Revenueu
  • Below Market Rent
  • Strong Commitment to Site and Excellent Unit Level Performer, Supported by Major Renovation at Tenant’s Expense
  • Established Location – Tenant Renewed 5-Year Option Early
  • High-Traffic Corridor – 21,000+ VPD on S Padre Island Dr; 111,000+ VPD on TX- 358

OVERVIEW

This is an excellent opportunity to acquire an Outback Steakhouse location in Corpus Christi, Texas, secured by an absolute NNN ground lease. The lease is corporately guaranteed with zero landlord responsibilities, and the tenant has already exercised their first 5-year renewal option early, demonstrating longterm commitment. Additionally, the tenant is investing in a remodel, further reinforcing their commitment to the location. There is an additional 5-year renewal option remaining, which includes a 10% rent increase. The property boasts prime visibility along S Padre Island Dr (21,000 VPD), a key section of Corpus Christi’s main retail corridor, which runs along TX-358 (111,000 VPD). This high-traffic area is home to several major shopping centers, including La Palmera Mall, featuring top retailers such as Dillard’s, Macy’s, JCPenney, H&M, and Dave & Buster’s. Just nearby, Moore Plaza serves as another major retail hub with anchors like H-E-B, Target, Stein Mart, PetSmart, Marshalls, Old Navy, Hobby Lobby, Office Depot, and The Home Depot, while Island Gate Plaza, home to Best Buy and Ross Dress for Less, further enhances the area’s strong retail presence. The site is also just 6 miles from Texas A&M University-Corpus Christi, a growing university with over 10,000 students, adding to the area's strong daytime population. Surrounding the property are several national-brand hotels, including Tru by Hilton, Residence Inn, Embassy Suites, Hampton Inn & Suites, Staybridge Suites, and Courtyard by Marriott, ensuring a steady flow of visitors and business travelers. Additionally, the property benefits from strong 3-mile demographics, with 125,717 residents and an average household income of $80,000.

FOR SALE DETAILS

PRICE

$1,961,728 USD

PRICE/SF

$292 USD /SF

CAP RATE

4.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Absolute NNN Ground Leased Outback Steakhouse

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

SPRINKLERS

-

PARKING SPACES

125

LAND DETAILS

CROSS STREETS

Oakhurst

LAND ACRES

2.76 AC

LAND SF

120,253 SF

ZONING

I2

APN/PARCEL ID

200096504

ASK ABOUT THIS PROPERTY

Kase AbusharkhThe Kase GroupMore Info
925-348-1844

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Kase AbusharkhThe Kase GroupMore Info
925-348-1844

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.