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Carrabba's Italian Grill: Waldorf, MD 3754 Crain Hwy 6,187 SF Retail Building Waldorf, MD 20603 $5,295,000 ($855.83/SF) 6.65% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN lease with ±6.5 years of primary term remaining, four 5-year renewal options, and a corporate guaranty from Bloomin’ Brands, Inc.
- This location boasts a long operating history with strong store sales. Since 2019, sales have increased 19%.
- Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7 times the CPI increase.
- Washington, D.C. MSA - Located 20 Miles from Downtown D.C.
EXECUTIVE SUMMARY
The CBRE Net Lease Property Group is pleased to exclusively offer for sale the 6,187-square-foot freestanding Carrabba’s Italian Grill situated on 1.21 acres in Waldorf, MD—an affluent bedroom community of the Washington, D.C. MSA (Population: 6.3 million+). Carrabba’s absolute NNN lease features ±7.2 years of primary term remaining, four 5-year renewal options, and a corporate guaranty from Bloomin’ Brands, Inc. Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7 times the CPI increase. This location boasts a long operating history with strong store sales. Since 2019, sales have increased 19%.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,187 SF
Building Class
B
Year Built
2007
Price
$5,295,000
Price Per SF
$855.83
Cap Rate
6.65%
NOI
$352,123
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.21 AC
Zoning
CC
Parking
86 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
268’ on Crain Hwy Hwy
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 06-282512 | Improvements Assessment | $3,856,100 |
| Land Assessment | $787,900 | Total Assessment | $4,644,000 |
PROPERTY TAXES
Parcel Number
06-282512
Land Assessment
$787,900
Improvements Assessment
$3,856,100
Total Assessment
$4,644,000
CONTACTS
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Leah Lindell -
Kaitlyn Wolf -
Abby Kelly -
Ryan Sciullo -
CBRE, Inc.
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Carrabba's Italian Grill: Waldorf, MD | 3754 Crain Hwy
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