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Outback Steakhouse: San Angelo, TX 4505 Sherwood Way

6,184 SF Retail Building San Angelo, TX 76901 £3,409,940 (£551/SF) 6.50% Net Initial Yield

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Investment Highlights

Absolute NNN lease features ±12.0 years of primary term remaining with three 5-year renewal options and a corporate guaranty from Bloomin’ Brands.
Located on Sherwood Way (24,040 VPD), where it is just feet from the on-ramp of TX-306 Loop (39,118 VPD).
7.5 MSF of retail, 2.7 MSF of office, 1.9 MSF of industrial, and 7,905 multifamily units within a 5-mile radius.

The offering boasts rare annual rent increases of 1.8%.
Positioned as an outparcel to the Sherwood Oaks Shopping Center, which is anchored by Cinemark Tinseltown USA and Crunch Fitness.
The site is within 1 mile of over 3,000 households, providing Outback with a substantial built-in customer base within walking distance.

Executive Summary

CBRE is pleased to exclusively offer for sale the 6,184-square-foot Outback Steakhouse situated on 1.20 acres in San Angelo, TX (MSA Population: 100,000+). Outback’s absolute NNN lease features ±12.0 years of primary term remaining with three 5-year renewal options and a corporate guaranty from Bloomin’ Brands, Inc. The offering boasts rare annual rent increases of 1.8%.