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Outback Steakhouse: Gaffney, SC 945 Factory Shops Blvd

6,172 SF Retail Building Gaffney, SC 29341 £2,959,464 (£479/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 along State Route S-11-440, which intersects with Hyatt Street about a half mile to the east & provides access to Interstate 85 (65,000 VPD).
3.2 MSF of retail, 6.6 MSF of industrial, and 1,821 multifamily units within a 5-mile radius of the site.

Rare annual rent increases of 1.8%
This freestanding Outback is strategically located as a part of the 360,000-square-foot Gaffney Outlet Marketplace.

Executive Summary

The CBE Net Lease Property Group is pleased to offer for sale the 6,172-square-foot Outback Steakhouse situated on 0.24 acres in Gaffney, SC — part of the Greenville, SC CSA (CSA Population: 1.5M). 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 also boasts rare annual rent increases of 1.8%.