25665 I-45, Spring, TX 77380 For Sale

The offering consists of an absolute triple net lease to Carrabba’s Italian Grill Located in The Woodlands, Texas one of the most sought after suburbs of the Houston submarket. There are annual escalations of approximately 1 percent. There are four five-year options. The land totals 1.51 acres and fronts on North Fwy I-45 (212,000 AADT). This is a great opportunity for out-of-state and in-state investors looking for passive income and no landlord responsibilities.

Carrabba’s has 220 locations across the United States. Bloomin’ Brands, Inc. (NASDAQ: BLMN; S&P: BB-) is one of the world’s largest casual dining restaurant companies with approximately 1,500 restaurants throughout 47 states, Guam, and 17 countries. The company operates restaurants through a portfolio of leading, differentiated restaurant brands including Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse & Wine Bar and Aussie Grill. Bloomin’ Brands reported 2022 revenues of $4.42 billion and net income of $101.9 million.

Montgomery county is a fast-growing suburban market that has recently seen developer interest in recent years with Conroe being one of the fastest growing cities in the nation in terms of population growth. Strong demographic and household growth are reasons why the area continues to attract new residents, retailers, and investors.

Within a one, three, and five mile radius respectively, the population totals over 12,252, 67,526, and 190,327 people. Average household incomes are $100,258, $127,107 and $142,770 within a one, three, and five mile radius respectively.