Highlands Ranch, CO - Outback Steakhouse

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Outback Steakhouse investment property located in Highlands Ranch, CO. The tenant ,Outback Steakhouse has over 18 years remaining on the initial lease with 3 (5-year) option periods to extend, demonstrating a long term commitment to the site. The lease features rare 2% annual rental increases throughout the initial term, generating healthy NOI growth. The lease is franchisee guaranteed by Cerca Trova, an experienced Outback Steakhouse Franchisee operator with over 100 Outback locations across the western United States (approx. 15% of all Outback locations in the U.S.). The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment for an out-of-state, passive investor.

The Outback Steakhouse is strategically located along Broadway, a major north/south retail and residential thoroughfare, averaging 36,200 vehicles passing by daily. Moreover, the site is located less than 0.25 miles from State Highway 470 (111,000 VPD) , a major beltway highway servicing the Denver-Aurora-Lakewood MSA. The subject property is an outparcel to an AMC Theatres and Main Event anchored shopping center featuring other national/credit tenants including Wells Fargo Bank, Red Robin, and more, promoting crossover shopping to the site. Other nearby national/credit tenants include Target, Safeway, The Home Depot, King Soopers, and more, further increasing consumer traffic to the subject area. The 5-mile trade area is supported by a population of more than 237,000 residents and nearly 78,000 employees. Residents within the immediate 3-mile trade area boast an affluent average household income of $176,875.

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Listing ID: a28TP000002m3ldYAA