Restaurant
Outback Steakhouse Ground Lease | New 15-Yr. NNN | Minutes to Disney World
966 Heritage Pass, Davenport (Orlando MSA), FL 33896
Listing Price: $3,451,000
Cap Rate
5.65%
Tenant Name
Outback Steakhouse
Years Remaining On Lease
14.8
Guarantor
Corporate Guarantee
Rentable SF
5,600
Lease Type
NNN Ground Lease
Rent Per Square Feet
$34.82
Investment Overview
Marcus & Millichap is pleased to present the Outback Steakhouse Ground Lease in Davenport, FL.
Outback Steakhouse Ground Lease | New 15-Yr. NNN | Minutes to Disney World
Investment Highlights
- 15-Year Absolute NNN Ground Lease with No Landlord Responsibilities
- 10% Rental Increases Every 5 Years Throughout the Base Term and Options
- Corporate Guaranty by Outback Steakhouse of Florida (694+ Locations), Wholly Owned Subsidiary of Bloomin' Brands (NASDAQ: BLMN)
- Bloomin' Brands is One of the World's Largest Casual Dining Companies with $3.95 Billion in Revenue
- Significant Capital Investment by Tenant to Build Restaurant, Average Cost is Approximately $3-6 Million
- Average Unit-Level Sales for New Outback's are $6 Million, Equates to a 3.25% Rent-to-Sales Ratio at This Location
- Brand New High-Quality Construction, Newest NextGen Design with Takeout/Online Order Window
- Serving Over 72,000 Residents in Rapidly Growing Orlando Suburb
Exclusively Listed By
Broker of Record
Financing By
Restaurant
Outback Steakhouse Ground Lease | New 15-Yr. NNN | Minutes to Disney World
Listing Price: $3,451,000
Cap Rate
5.65%
Tenant Name
Outback Steakhouse
Years Remaining On Lease
14.8
Guarantor
Corporate Guarantee
Rentable SF
5,600
Lease Type
NNN Ground Lease
Rent Per Square Feet
$34.82
Investment Highlights
- 15-Year Absolute NNN Ground Lease with No Landlord Responsibilities
- 10% Rental Increases Every 5 Years Throughout the Base Term and Options
- Corporate Guaranty by Outback Steakhouse of Florida (694+ Locations), Wholly Owned Subsidiary of Bloomin' Brands (NASDAQ: BLMN)
- Bloomin' Brands is One of the World's Largest Casual Dining Companies with $3.95 Billion in Revenue
- Significant Capital Investment by Tenant to Build Restaurant, Average Cost is Approximately $3-6 Million
- Average Unit-Level Sales for New Outback's are $6 Million, Equates to a 3.25% Rent-to-Sales Ratio at This Location
- Brand New High-Quality Construction, Newest NextGen Design with Takeout/Online Order Window
- Serving Over 72,000 Residents in Rapidly Growing Orlando Suburb
Investment Overview
Marcus & Millichap is pleased to present the Outback Steakhouse Ground Lease in Davenport, FL.
Exclusively Listed By
Broker of Record
Financing By
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