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Outback Steakhouse 633 N 48th St

6,100 SF Retail Building Lincoln, NE 68504 £1,437,818 (£236/SF) 5.75% Net Initial Yield

Investment Highlights

  • SHORT-TERM DEAL WITH LOW RENT: Low rent Outback is currently paying rent of $18 per sq. ft.
  • ABSOLUTE NNN LEASE: There is just under 2 years remaining on an Absolute NNN Fee Simple lease and Two (2), Five (5) year option periods.
  • The tenant is responsible for all expenses: taxes, insurance, and maintenance; including roof, structure, and parking lot.
  • LONG-TERM OPERATING HISTORY: Outback has been established at this location for more than 25 years.
  • STRONG PERFORMING LOCATION: With a population of over 226,500 and 95,800 households within a 5-mile radius of downtown Lincoln.

Executive Summary

We are pleased to present the opportunity to acquire a low rent casual dine property. The subject property is positioned less than two miles from University of Nebraska (26,000 students). Surrounding retailers include Target, CVS, McDonald’s, Taco Bell, Raising Cane’s, and Chick-Fil-A, among many others. The property is well positioned and has over 20,000 VPD passing this location. The tenant has been at this location for over 27 years and has demonstrated a long term commitment to this location and their customer base. The subject property is located in a extremely dense market with over 220,000 people in a 5 mile radius.

Attachments

Outback OM - Lincoln,NE

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,100 SF
Building Class
C
Year Built
1967
Price
£1,437,818
Price Per SF
£236
Net Initial Yield
5.75%
NOI
£82,672
Tenancy
Single
Number of Floors
1
Building FAR
0.36
Land Acres
0.39 AC
Zoning
B1
Frontage
184 ft on 48th St

Amenities

  • Pylon Sign
  • Restaurant
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633 N 48th St, Lincoln, NE - aerial map view - Image1
633 N 48th St, Lincoln, NE - aerial map view - Image2
Walk Score ®
Very Walkable (81)
Bike Score ®
Very Bikeable (85)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

Hy-Vee
McAlister's Deli
Outback Steakhouse
Starbucks
Natural Grocers
Noodles & Company
Bank of Montreal
U.S. Bank
Davinci's
Cheddar's Scratch Kitchen

PROPERTY TAXES

Parcel Number 17-20-323-003-000 Improvements Assessment £972,916
Land Assessment £193,857 Total Assessment £1,166,773

PROPERTY TAXES

Parcel Number
17-20-323-003-000
Land Assessment
£193,857
Improvements Assessment
£972,916
Total Assessment
£1,166,773
(513) 300-0763

  • Listing ID: 33871458

  • Date on Market: 14/11/2024

  • Last Updated:

  • Address: 633 N 48th St, Lincoln, NE 68504

The Retail Property at 633 N 48th St, Lincoln, NE 68504 is currently available For Sale. Contact Bang Realty for more information.

Retail PROPERTIES IN NEARBY NEIGHBOURHOODS

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633 N 48th St
633 N 48th St, Lincoln, NE for sale Building Photo- Image 2 of 6
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633 N 48th St, Lincoln, NE for sale Building Photo- Image 3 of 6
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633 N 48th St, Lincoln, NE for sale Aerial- Image 5 of 6
633 N 48th St

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© 2024 CoStar Group

Outback Steakhouse | 633 N 48th St
(513) 300-0763 x

Outback Steakhouse | 633 N 48th St

Brian Brockman

(513) 300-0763

(513) 300-0763

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