Outback Steakhouse | 2225 W Highway 44
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Outback Steakhouse 2225 W Highway 44
6,174 SF Retail Building Inverness, FL 34453 $6,360,613 CAD ($1,030 CAD/SF) 6% Cap Rate
Investment Highlights
- Absolute NNN lease features ±12.4 years of primary term remaining with three, 5-year renewal options and a corporate guaranty from Bloomin’ Brands.
- Located along Highway 44 West (29,400 VPD), which intersects 2.4 miles east with US Highway 41 South (18,400 VPD).
- Outback is positioned within Inverness’ primary retail corridor with 3.2 MSF of retail within a 5-mile radius.
- Rare annual rent increases of 1.80%.
- Across Highway 44 West from RaceTrac, Starbucks and the newly-built Colonnade Park Apartments (106 Units).
- Surrounded by Several Retail Developments: Shops at Inverness, Citrus Center Shopping Mall, Citrus Plaza & Highland Square Shopping Mall
Executive Summary
CBRE is pleased to exclusively offer for sale the 6,174-square-foot Outback Steakhouse situated on 3.33 acres in Inverness, FL - a component of the Homosassa Springs, FL MSA (Population: 160,180). Outback’s absolute NNN lease features ±12.4 years of primary term remaining with three, 5-year renewal options and a corporate guaranty from Bloomin’ Brands.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,174 SF
Building Class
B
Year Built
2001
Price
$6,360,613 CAD
Price Per SF
$1,030 CAD
Cap Rate
6%
NOI
$381,637 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
3.33 AC
Zoning
C
Parking
123 Spaces (19.92 Spaces per 1,000 SF Leased)
Frontage
141 ft on W Highway 44
Amenities
- Freeway Visibility
- Pylon Sign
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 19E-19S-13-0020-00000-0390 | Improvements Assessment | $1,276,914 CAD |
| Land Assessment | $878,931 CAD | Total Assessment | $2,155,844 CAD |
PROPERTY TAXES
Parcel Number
19E-19S-13-0020-00000-0390
Land Assessment
$878,931 CAD
Improvements Assessment
$1,276,914 CAD
Total Assessment
$2,155,844 CAD
Contacts
-
Christopher Bosworth -
Thomas Carr -
Brian Pfohl -
Leah Lindell -
Abby Kelly -
CBRE, Inc.
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Outback Steakhouse | 2225 W Highway 44
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