Outback Steakhouse Ground Lease
Single-Tenant Offerings
Outback Steakhouse Ground Lease
996 Heritage Pass
Davenport (Orlando MSA), FL
- Price:
- $3,611,000
- Cap Rate:
- 5.40%
- NOI:
- $195,000
- Rentable SQFT:
- 5,600 SF
- Year Built:
- 2025
- Lot Size:
- 1.11 +/- Acres
- Lease Type:
- Absolute NNN Ground Lease
- Status:
- Available
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
- Polk County Is One of the Fastest Growing Counties in the U.S.
- Outparcel to Legacy Square with 460 New Luxury Apartments and 70 Townhomes
- Regional Retail Hub, Down the Street from Publix, Aldi, Wawa, 7/11, CVS, Walgreens, McDonald’s, Panda Express, Panera, First Watch and Many More
- Adjacent to ChampionsGate, a $1+ Billion Master-Planned Community with 2,136 Resort Villas, 2,864 Hotel Rooms, Championship Golf Courses Designed by Greg Norman
- 1.5 Miles to Reunion, a 2,300-Acre Resort and Master-Planned Community with 6,233 Planned Luxury Homes, 1,574 Hotel Rooms, 624,000 SF of Commercial Space, 3 PGA Golf Courses, and a Water Park
- Hard Corner Location at Busy Signalized Intersection with 33,000 Cars/Day
- Just Off I-4 with 142,500 Cars/Day, Direct Access to Downtown Orlando and Tampa
- Close Proximity to Disney World (58 Million Visitors/Year), Magic Kingdom (17.7 Million Visitors/Year), Legoland Florida (16.7 Million Visitors/Year), EPCOT (11.98 Million Visitors/Year) and Animal Kingdom (8.77 Million Visitors/Year)
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