Listed by Marcus & Millichap - San Diego
$2,577,255
OUTBACK STEAKHOUSE | LOW RENT | ABS. NET | 27+ YR OCCUPANCY
Details
APN 107280030000
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 6,163
Units 1
Cap Rate 5.5%
NOI $141,749
Tenancy Single
Brand/Tenant Outback Steakhouse, Steak 'n Shake
Lease Type Absolute NNN
Lease Expiration 09/29/2033
Remaining Term 7.2
Rent Bumps Yes
Class A
Year Built 1998
Stories 1
Acreage 1.140
Investment Type Net Lease
Tenant Credit Franchisee
Ground Lease Yes
Retail | 5.50% CAP | 6,163 SqFt
Marketing description
PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE:
https://themansourgroup.com/properties/310508/outback-steakhouse
Investment highlights
- Absolute Net Ground Lease Featuring a 10% Rental Increase in 2028 and at the Option. 27+ Year Historical Occupancy with Multiple Lease Extensions Demonstrating a Strong Commitment to the Location.
- Ranked in the Top 35% in the Chain Nationwide per Placer.ai based on Foot Traffic. Positioned Along Area’s Major Retail & Traffic Corridor: Features Easy Access and Excellent Visibility.
- Immediate Access to/from Interstate-5 (70k+ VPD). Densely Populated and Affluent Area: Features an Average Household Income of more than $84k and over 98k People Residing within a 5-Mile Radius.
- The Lease is signed by Cerca Trova Steakhouse Operating Over 100+ Locations Across Arizona, California, Colorado, Nevada and New Mexico. Outback Steakhouse as a Whole is among the Leading Casual Dining Restaurants with over 1,000 locations in 23 countries.
- Within Mt. Shasta Mall - a Popular Shopping Destination featuring more than 80 Stores. It is one of only Four Malls serving California North of Sacramento - Comprises the Largest gathering of Retailers within a 400 Mile Stretch of Interstate 5.
- Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics - More than 400k Sq.Ft. of New Retail Development planned within the Immediate Area.
- Surrounded by Numerous National Retailers, including Walmart Supercenter, Target, The Home Depot, Hobby Lobby, BevMo!, PetSmart, T.J. Maxx, Michaels, World Market, Best Buy, Trader Joe’s, WinCo Foods, and many more.
- The City of Redding is the Center of Trade and Commerce for the Upstate Region of Northern California. It is the Largest City North of Sacramento and is Strategically Located on I-5, Equidistant Between Seattle and Los Angeles. Minutes from a Proposed New Casino, Hotel and Convention Center - Plans include a 69k Sq.Ft. Casino w/ 1,200 Slot Machines and 36 Game Tables, a 250-Room Hotel, a 1,800-seat event center and a 1,500-seat outdoor amphitheater.
Listing Contacts
Listed by Marcus & Millichap - San Diego
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$141,749.00
$11,812.42/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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