Outback Steakhouse | 11756 US-70 BUS w
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Outback Steakhouse 11756 US-70 BUS w
5,000 SF Retail Building Clayton, NC 27520 £2,757,555 (£552/SF) 5.15% Net Initial Yield
Investment Highlights
- A TOP PERFORMING MARKET NATIONALLY
- ATTRACTIVE LEASE FUNDAMENTALS
- HIGHLY VISIBLE AND TRAFFICKED LOCATION
Executive Summary
ATTRACTIVE LEASE FUNDAMENTALS
- New 15 year Abs. NNN Ground Lease
- 10% rent increases every 5 years
- No Landlord responsibilities
GLOBALLY RECOGNIZED BRAND
- Outback Steakhouse has over 1,300 locations in 23 countries throughout North and South America, Asia, and Australia
- Outback is a subsidiary of Bloomin’ Brands Restaurant Group
- Bloomin’ Brands reported over $4.4 billion in revenue
A TOP PERFORMING MARKET NATIONALLY
- Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
- Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)
POSITIONED ON A RETAIL CORRIDOR
- Over 627KSF of retail space located in a 1-mile radius
- Nearby National Retailers include: Lowes Foods, Walmart Super Center, Bojangles, Biscuitville, Arby’s, Dairy Queen and Culvers
HIGHLY VISIBLE AND TRAFFICKED LOCATION
- Fronting US 70 BUS Hwy W (40,500 VPD)
- Direct Access to Cameron Crossing, a 200 unit townhome community
- Less than quarter mile to Stalling Mills, a 288 unit apartment complex
NEW CONSTRUCTION
- Newly built Outback, building being constructed by Tenant with newest restaurant prototype
- New 15 year Abs. NNN Ground Lease
- 10% rent increases every 5 years
- No Landlord responsibilities
GLOBALLY RECOGNIZED BRAND
- Outback Steakhouse has over 1,300 locations in 23 countries throughout North and South America, Asia, and Australia
- Outback is a subsidiary of Bloomin’ Brands Restaurant Group
- Bloomin’ Brands reported over $4.4 billion in revenue
A TOP PERFORMING MARKET NATIONALLY
- Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
- Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)
POSITIONED ON A RETAIL CORRIDOR
- Over 627KSF of retail space located in a 1-mile radius
- Nearby National Retailers include: Lowes Foods, Walmart Super Center, Bojangles, Biscuitville, Arby’s, Dairy Queen and Culvers
HIGHLY VISIBLE AND TRAFFICKED LOCATION
- Fronting US 70 BUS Hwy W (40,500 VPD)
- Direct Access to Cameron Crossing, a 200 unit townhome community
- Less than quarter mile to Stalling Mills, a 288 unit apartment complex
NEW CONSTRUCTION
- Newly built Outback, building being constructed by Tenant with newest restaurant prototype
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,000 SF
Year Built
2024
Price
£2,757,555
Price Per SF
£552
Net Initial Yield
5.15%
NOI
£142,020
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Land Acres
1.87 AC
Opportunity Zone
Yes
Zoning
c - Commercial
Amenities
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 05008010A | Improvements Assessment | £30,400 |
| Land Assessment | £102,899 | Total Assessment | £133,298 |
PROPERTY TAXES
Parcel Number
05008010A
Land Assessment
£102,899
Improvements Assessment
£30,400
Total Assessment
£133,298
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David Hoppe -
Ben Olmstead -
Atlantic Capital Partners
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Outback Steakhouse | 11756 US-70 BUS w
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