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Outback Steakhouse 4500 Franklin Ave 6,163 SF Retail Building Waco, TX 76710 $2,209,278 ($358.47/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Long Term Absolute Triple-Net (NNN) Lease There are over six (6) years remaining on an original 15-year absolute triple-net (NNN) lease
- Strong Traffic Counts The property is located along Franklin Avenue, which receives over 30,000 vehicles per day
- Corporate Guarantee Outback Steakhouse is a casual steakhouse restaurant focused on steaks, signature flavors, and Australian-inspired decor
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for an Outback Steakhouse located at 4500 Franklin Ave, Waco, TX 76710. The site consists of roughly 6,163 rentable square feet of building space on an estimated 1-acre parcel of land. This Outback Steakhouse is subject to a 15-year Select Lease Type lease, which commenced 8/31/2016. The current annual rent is $143,603 and has scheduled increases of 1.00% annually.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,163 SF
Building Class
B
Year Built
1996
Price
$2,209,278
Price Per SF
$358.47
Cap Rate
6.50%
NOI
$143,603
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.00 AC
Zoning
C-3
Frontage
245’ on Franklin Ave
AMENITIES
- Freeway Visibility
- Pylon Sign
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 48-018413-000200-1 | Improvements Assessment | $2,237,699 |
| Land Assessment | $762,300 | Total Assessment | $2,999,999 |
PROPERTY TAXES
Parcel Number
48-018413-000200-1
Land Assessment
$762,300
Improvements Assessment
$2,237,699
Total Assessment
$2,999,999
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Outback Steakhouse | 4500 Franklin Ave
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