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Outback Steakhouse 903 Airport Blvd 7,270 SF 4-Star Retail Building Pensacola, FL 32504 $2,800,000 ($385.14/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- New 10-Year Lease | 10% Rental Increases | Established Brand
- Within 2 miles of Cordova Mall | Flanked By Two National Tenant Anchored Centers
- Strong Demographics In 5-Mile Trade Area
- Absolute NNN Ground Lease | Zero Landlord Responsibilities | No State Income Tax
- Signalized, Hard Corner Intersection | Highly Visible From Two Major Roadways
EXECUTIVE SUMMARY
• Outback recently signed a brand new 10 year lease with 4 (5-year) options
• The lease features a 10% rental increase in Year 6 and every 5 years throughout the option periods, increasing NOI and hedging against inflation
• There are 678 Outback Steakhouse locations in the US as of August 14, 2024
• The lease features a 10% rental increase in Year 6 and every 5 years throughout the option periods, increasing NOI and hedging against inflation
• There are 678 Outback Steakhouse locations in the US as of August 14, 2024
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,270 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2017
Price
$2,800,000
Price Per SF
$385.14
Cap Rate
5%
NOI
$140,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
0.86 AC
Zoning
C-1 - Neighborhood Commercial
Parking
115 Spaces (15.82 Spaces per 1,000 SF Leased)
AMENITIES
- Freeway Visibility
- Pylon Sign
- Restaurant
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 35-1S-30-1205-000-000 | Improvements Assessment | $4,464 |
| Land Assessment | $89,645 | Total Assessment | $94,109 |
PROPERTY TAXES
Parcel Number
35-1S-30-1205-000-000
Land Assessment
$89,645
Improvements Assessment
$4,464
Total Assessment
$94,109
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Outback Steakhouse | 903 Airport Blvd
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