6821 Chital Dr
Midlothian, VA 23112
Outback Steakhouse | Richmond MSA · Retail Property For Sale

CBRE' S NET LEASE PROPERTY GROUP is pleased to exclusively offer a 6,328-square-foot freestanding Outback Steakhouse situated on 2.12-acres in Chesterfield, Virginia which is an upscale bedroom community 18 miles southwest of Richmond (MSA Population: 1.2 million). At closing, Outback Steakhouse will execute a new 15-year absolute NNN lease with four 5-year options to renew and 1.00% annual rent increases. This investment offers investors the opportunity to purchase a net leased asset leased on a long-term NNN basis to one of the country' s premier casual dining restaurant operators. The property is ideally located with excellent frontage and visibility on Chital Drive (3,800 VPD) just 2.5 miles west of the intersection of World War II Veterans Memorial Parkway and Hull Street (Combined Traffic Count: 116,000 VPD) which are primary arteries for the area and provide direct access to Downtown Richmond (18 miles to the northeast). The site is also situated immediately adjacent to South Beach House Restaurant, a medical office building, and caddy corner from Burger King, Dunkin Donuts, and Baskin Robbins. Outback is also situated within the area' s premier retail corridor (3.2 MSF of retail space within 3-miles) and benefits from upscale demographics (population of 46,589 and average household income of $108,350 within 3-mile radius).