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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.
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 | $2,499,310 |
| Land Assessment | $3,182,344 | Total Assessment | $5,681,654 |
Property Taxes
Parcel Number
20-2431-7094-02-000
Land Assessment
$3,182,344
Improvements Assessment
$2,499,310
Total Assessment
$5,681,654
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Longhorn Steakhouse | 12315 Narcoossee Road
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