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.