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Longhorn Steakhouse 12315 Narcoossee Road 5,710 SF Retail Building Orlando, FL 32832 $4,500,000 ($788.09/SF) 4% Cap Rate


Executive Summary
STRONG NATIONALLY RECOGNIZED TENANTS LONG-TERM GROUND LEASES WITH MULTIPLE OPTIONS PHENOMENAL LOCATION IN A THRIVING SUBMARKET
• The offering features Darden brand restaurant Longhorn Steakhouse.
• Darden (NYSE: DRI) is the world’s largest full-servicerestaurant company with over 1,800 restaurant locations and over 175,000 employees.
• There are over 564 LongHorn Steakhouse locations in the U.S.
• Longhorn is a high performer and among the most successful of their respective types.
• Darden has a credit rating of BBB on the S&P, and a rating of Baa2 on Moody’s.
LONG-TERM GROUND LEASES WITH MULTIPLE OPTIONS
• Multiple option periods, extending their leases for an extra 30 years.
• Zero landlord responsibility.
• Absolute Net Lease.
• 1st 10% rent increase is in 3 years.
PHENOMENAL LOCATION IN A THRIVING SUBMARKET
• Located with high visibility along Narcoossee Rd, which is the main artery through Lake Nona and sees 57,500 AADT.
• Just one (1) mile from Interstate 417, which provides access to the International Airport and Disney World.
• Lake Nona is a booming submarket, with incredible demographics, a large retail presence and many corporate headquarters, hospital campuses, and technology firms.
• Lake Nona’s medical city is Orlando’s fastest-growing,most innovative master-planned community encompassing
7,000 acres.
• Features Nemours Children’s Hospital, M.D. Anderson Orlando’s Cancer Research Institute, Orlando VA Medical Center, University of Central Florida’s new College of Medicine and Health Sciences campus, and more.
• Close to 58,000 cars per day drive by this property day and night and the area continues to grow rapidly.
• The offering features Darden brand restaurant Longhorn Steakhouse.
• Darden (NYSE: DRI) is the world’s largest full-servicerestaurant company with over 1,800 restaurant locations and over 175,000 employees.
• There are over 564 LongHorn Steakhouse locations in the U.S.
• Longhorn is a high performer and among the most successful of their respective types.
• Darden has a credit rating of BBB on the S&P, and a rating of Baa2 on Moody’s.
LONG-TERM GROUND LEASES WITH MULTIPLE OPTIONS
• Multiple option periods, extending their leases for an extra 30 years.
• Zero landlord responsibility.
• Absolute Net Lease.
• 1st 10% rent increase is in 3 years.
PHENOMENAL LOCATION IN A THRIVING SUBMARKET
• Located with high visibility along Narcoossee Rd, which is the main artery through Lake Nona and sees 57,500 AADT.
• Just one (1) mile from Interstate 417, which provides access to the International Airport and Disney World.
• Lake Nona is a booming submarket, with incredible demographics, a large retail presence and many corporate headquarters, hospital campuses, and technology firms.
• Lake Nona’s medical city is Orlando’s fastest-growing,most innovative master-planned community encompassing
7,000 acres.
• Features Nemours Children’s Hospital, M.D. Anderson Orlando’s Cancer Research Institute, Orlando VA Medical Center, University of Central Florida’s new College of Medicine and Health Sciences campus, and more.
• Close to 58,000 cars per day drive by this property day and night and the area continues to grow rapidly.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Building Size
5,710 SF
Building Class
B
Year Built
2022
Price
$4,500,000
Price Per SF
$788.09
Cap Rate
4%
NOI
$180,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.69 AC
Zoning
PD - Planned Development
Parking
102 Spaces (17.86 Spaces per 1,000 SF Leased)
Amenities
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 20-2431-7094-02-000 | Improvements Assessment | $1,463,130 |
| Land Assessment | $3,182,344 | Total Assessment | $4,645,474 |
Property Taxes
Parcel Number
20-2431-7094-02-000
Land Assessment
$3,182,344
Improvements Assessment
$1,463,130
Total Assessment
$4,645,474
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Longhorn Steakhouse | 12315 Narcoossee Road
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