Listed by Sands Investment Group Charleston, Sands Investment Group Philadelphia
$4,157,140
Outback - Fredericksburg, VA
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 6,100
Cap Rate 5%
NOI $207,857
Occupancy 100%
Tenancy Single
Brand/Tenant Outback Steakhouse
Lease Type Absolute NNN
Lease Term 35.2
Lease Expiration 12/31/2029
Remaining Term 3.5
Rent Bumps Yes
Lease Options 3 x 5 Year Options
Price per SqFt $682
Year Built 1995
Year Renovated 2017
Acreage 1.590
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 11/01/1994
Outback Steakhouse | I-95 Corridor | Absolute NNN With 10% Rent Growth
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 6,100 SF Outback Steakhouse located at 2941 Plank Road in a strong retail corridor in Fredericksburg, VA. The property is secured with an Absolute Triple Net (NNN) Lease providing for no landlord responsibilities and 10% rental escalations every 5-years, making it a high-quality long term investment opportunity. Opened in 1995 and renovated in 2017, this property boasts a long-term, successfully operating business, modern amenities, and a well-maintained exterior. This opportunity presents a compelling prospect for investors seeking a stable and lucrative venture
Investment highlights
- Dominant Retail Corridor: Surrounded by national anchor tenants including Best Buy, Target, Walmart, Lowe’s, Hobby Lobby, PetSmart, Regal Cinemas, DSW, and more.
- Prime Interstate Location: Immediately off I-95, serving as a key community stop between Washington, DC, and Richmond.
- Excellent Visibility & Access: Signalized intersection, dedicated turn lane, and prominent pylon signage.
- High-Traffic Retail Hub: Positioned in the center of a dense cluster of major retailers, driving consistent consumer draw.
- Attractive Site Features: Lake frontage and a large outdoor patio enhancing customer experience and dwell time.
- Strong Market Fundamentals: Fredericksburg offers a stable and growing economy with high median incomes and access to both DC and Richmond employment bases.
- Supply-Constrained Market: Characterized by low retail vacancy and strong tenant sales performance.
- Attractive Passive Income with Built-In Growth: Absolute Triple Net (NNN) lease structure eliminates landlord responsibilities while providing predictable income through 10% rent increases every 5 years, offering both stability and long-term upside for investors.
- Favorable Lease Structure: Three additional 5-year renewal options with 10% rent increases, providing long-term income stability.
- Proven Operating History: High-performing Outback Steakhouse location in operation since 1995.
Listing Contacts
Listed by Sands Investment Group Charleston, Sands Investment Group Philadelphia
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$207,857.00
$17,321.42/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
Map
Zoning
PD-C PlannedPlanned Development Commercial
View municipality zoning documents Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 134 uses
View all 134 uses Last updated Feb 17, 2026 For deeper zoning details, reports are available at Zoneomics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Title
Name
License
Brokerage
Brokerage Phone
Title
Brokerage Address
Is there information that looks off?
