$3,611,000 USD
858-373-3174
996 Heritage Pass
Davenport, FL 33896
North Polk
HIGHLIGHTS
- 15-Year Absolute NNN Ground Lease with No Landlord Responsibilities
- 10% Rental Increases Every 5 Years Throughout the Base Term and Options
- Corporate Guaranty by Outback Steakhouse of Florida (694+ Locations), Wholly Owned Subsidiary of Bloomin’ Brands (NASDAQ: BLMN)
- Bloomin’ Brands is One of the World’s Largest Casual Dining Companies with $3.95 Billion in Revenue
- Significant Capital Investment by Tenant to Build Restaurant, Average Cost is Approximately $3-6 Million
- Average Unit-Level Sales for New Outback’s are $6 Million, Equates to a 3.25% Rent-to-Sales Ratio at This Location
FOR SALE DETAILS
PRICE
$3,611,000 USD
PRICE/SF
$645 USD /SF
CAP RATE
5.4%
% LEASED
-
TENANCY
-
SALE TYPE
Investment
ON GROUND LEASE
Yes
BUILDING DETAILS
PROPERTY NAME
Outback Steakhouse Ground Lease
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Restaurant
ADD'L SUBTYPES
Fast Food, Freestanding, Storefront
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2025
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1.11 AC
LAND SF
48,482 SF
ZONING
-
APN/PARCEL ID
27-26-03-701060-000012
ASK ABOUT THIS PROPERTY
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858-373-3174
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Please correct the highlighted field(s).
858-373-3174
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