7917 W Broad St
Richmond, VA 23294
Retail Property For Sale

CBRE' S NET LEASE PROPERTY GROUP is pleased to exclusively offer a 6,150-square-foot freestanding Outback Steakhouse situated on 2.09 acres in Richmond, Virginia (MSA Population: 1,271,334). Outback Steakhouse' s new 20-year absolute NNN lease with 1.80% annual rent increases recently commenced in October 2016. This investment offers investors an excellent opportunity to acquire a net leased asset leased on a long-term NNN basis to one of the nation' s premier casual dining restaurant operators. The site is ideally located with excellent access and visibility on West Broad Street (Traffic Count: 41,000 VPD), less than 2 miles east of I-64 (Traffic Count: 117,000 VPD) which leads directly to Downtown Richmond (10 miles to the southeast). Outback Steakhouse is also immediately adjacent to Enterprise Rent-A-Car and is directly across from Havarty Furniture Showroom and Hooters. Additionally, the property benefits from its position at the heart of one of the area' s dominant retail and commercial corridors, with 9 MSF of retail, 10.1 MSF of office, 3.9 MSF of industrial and 14,030 multifamily units within a 3-mile radius. Other major retailers with a presence in the immediate vicinity include Food Lion, Stein Mart, Anytime Fitness, Big Lots, Total Wine & More, Harbor Freight Tools, Marshalls, Walgreens, CVS, Advance Auto, Pep Boys, and McDonald' s among many others. Additionally, the property is strategically located walking distance to the Williamsburg Park Apartments (208 units) and benefits from infill demographics with a 3-mile population and average annual household income of 109,793 and $74,310, respectively.