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Outback Steakhouse | Abs NNN 15 Springer Dr 6,228 SF Retail Building Highlands Ranch, CO 80129 $4,795,000 ($769.91/SF) 5.75% Cap Rate
Investment Highlights
- Over 18 Years Remaining | Rare Annual Increases |Options to Extend | Franchisee Guaranteed by Cerca Trova
- Located Along Major Thoroughfare | Immediate Interstate Access | Denver-Aurora-Lakewood MSA
- Strong Demographics In 5-mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Outparcel to AMC Theatre & Main Event Anchored Center |Primary Retail Corridor
Executive Summary
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Outback Steakhouse investment property located in Highlands Ranch, CO. The tenant ,Outback Steakhouse has over 18 years remaining on the initial lease with 3 (5-year) option periods to extend, demonstrating a long term commitment to the site. The lease features rare 2% annual rental increases throughout the initial term, generating healthy NOI growth. The lease is franchisee guaranteed by Cerca Trova, an experienced Outback Steakhouse Franchisee operator with over 100 Outback locations across the western United States (approx. 15% of all Outback locations in the U.S.). The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment for an out-of-state, passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,228 SF
Building Class
C
Year Built
1995
Price
$4,795,000
Price Per SF
$769.91
Cap Rate
5.75%
NOI
$275,685
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.41 AC
Zoning
PD - Planned Development
Parking
105 Spaces (16.86 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Signage
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 2229-031-03-009 | Improvements Assessment | $306,700 |
| Land Assessment | $199,330 | Total Assessment | $506,030 |
Property Taxes
Parcel Number
2229-031-03-009
Land Assessment
$199,330
Improvements Assessment
$306,700
Total Assessment
$506,030
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