Outback Steakhouse | 3601 Raleigh Road Pky W
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Outback Steakhouse 3601 Raleigh Road Pky W
5,000 SF Retail Building Wilson, NC 27896 £2,910,621 (£582/SF) 5.15% Net Initial Yield
Investment Highlights
- ATTRACTIVE LEASE FUNDAMENTALS
- GLOBALLY RECOGNIZED BRAND
- HIGHLY VISIBLE AND TRAFFICKED LOCATION IN RALEIGH MSA
Executive Summary
ATTRACTIVE LEASE FUNDAMENTALS
- New 15 year Abs. NNN Ground Lease
- 10% rent increases every 5 years
- Four (4) renewal options of five (5) years each
- 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
WILSON, NC - A MANUFACTURING HUB
- Wilson, NC has over 90 different manufacturers
- Approximately $134M of capital was spent on either expanding or developing manufacturing facilities in 2022, bringing approximately 190 jobs
- Subject site is located less than 8 miles from Bridgestone America’s manufacturing facility, which employs over 1,700 people
POSITIONED IN DOMINANT RETAIL NODE
- Over 1.2MSF of retail space in a one-mile radius boasting a ~0.6% vacancy rate
- Across the street from Heritage Crossing Shopping center a 460K SF Target-anchored power center
HIGHLY VISIBLE AND TRAFFICKED LOCATION
- Located on the corner of a high trafficked lighted intersection of Raleigh Road Pkwy (23.5k VPD) and Airport Blvd NW (27.5K VPD)
- Multiple points of ingress and egress on Airport Blvd and Raleigh Road Parkway with cross-access to other retailers
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
- Four (4) renewal options of five (5) years each
- 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
WILSON, NC - A MANUFACTURING HUB
- Wilson, NC has over 90 different manufacturers
- Approximately $134M of capital was spent on either expanding or developing manufacturing facilities in 2022, bringing approximately 190 jobs
- Subject site is located less than 8 miles from Bridgestone America’s manufacturing facility, which employs over 1,700 people
POSITIONED IN DOMINANT RETAIL NODE
- Over 1.2MSF of retail space in a one-mile radius boasting a ~0.6% vacancy rate
- Across the street from Heritage Crossing Shopping center a 460K SF Target-anchored power center
HIGHLY VISIBLE AND TRAFFICKED LOCATION
- Located on the corner of a high trafficked lighted intersection of Raleigh Road Pkwy (23.5k VPD) and Airport Blvd NW (27.5K VPD)
- Multiple points of ingress and egress on Airport Blvd and Raleigh Road Parkway with cross-access to other retailers
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
Building Class
C
Year Built
2024
Price
£2,910,621
Price Per SF
£582
Net Initial Yield
5.15%
NOI
£149,910
Tenancy
Single
Number of Floors
1
Building FAR
0.08
Land Acres
1.38 AC
Zoning
GC
Parking
32 Spaces (6.4 Spaces per 1,000 SF Leased)
Frontage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 3702-67-7745.000 | Improvements Assessment | £0 |
| Land Assessment | £825,496 | Total Assessment | £825,496 |
PROPERTY TAXES
Parcel Number
3702-67-7745.000
Land Assessment
£825,496
Improvements Assessment
£0
Total Assessment
£825,496
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David Hoppe -
Ben McCarter -
Ben Olmstead -
Atlantic Capital Partners
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Outback Steakhouse | 3601 Raleigh Road Pky W
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