Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Washington D.C.
$5,387,800
Carrabba's Italian Grill: Waldorf, MD
Details
Property Type Retail
Sub Type Restaurant
Square Footage 6,187
Cap Rate 6.65%
NOI $358,285
Brand/Tenant Carrabba's Italian Grill
Lease Type Absolute NNN
Lease Term 20.1
Lease Expiration 03/31/2032
Remaining Term 5.7
Rent Bumps Yes
Lease Options Four 5-Year Options
Price per SqFt $871
Year Built 2007
Buildings 1
Acreage 1.210
Parking Spaces 86 spaces
Parking per 1,000 SqFt 13.90
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/14/2012
Ground Lease No
Retail | 6.65% CAP | 6,187 SqFt
Marketing description
The CBRE Net Lease Property Group is pleased to exclusively offer for sale the 6,187-square-foot freestanding Carrabba’s Italian Grill situated on 1.21 acres in Waldorf, MD—an affluent bedroom community of the Washington, D.C. MSA (Population: 6.3 million+). Carrabba’s absolute NNN lease features ±5.7 years of primary term remaining, four 5-year renewal options, and a corporate guaranty from Bloomin’ Brands, Inc. Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7 times the CPI increase. This location boasts a long operating history with strong store sales. Since 2019, sales have increased 19%.
Investment highlights
- Absolute NNN Lease: Carrabba’s absolute NNN lease features ±5.7 years of primary term remaining, four 5-year renewal options, and a corporate guaranty from Bloomin’ Brands, Inc.
- Rare Annual Escalations: Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7 times the CPI increase.
- Proven Location: This location boasts a long operating history with strong store sales. Since 2019, sales have increased 19%.
- Excellent Access & Visibility: Located 20 miles south of downtown Washington, D.C., the property is positioned with excellent access and visibility along Crain Highway (55,221 VPD), which intersects with Berry Road (36,171 VPD) just 2 miles north of the site.
Listing Contacts
Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Washington D.C.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$358,285.00
$29,857.08/mo
Valuation Metrics
0
DSCR
6.65%
Cap Rate
6.65%
ROI
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