Colorado Springs, CO - Outback Steakhouse

Description:

SRS National Net Lease 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 Colorado Springs, Colorado. The tenant, Outback Steakhouse has over 18 years remaining on the initial lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features rare 2% annual rental increases throughout the initial term, steadily growing NOI and hedging against inflation. 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 US). The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.

The Outback Steakhouse is strategically located just off Interstate 25 (143,000 VPD) near its intersection with E. Woodmen Road, a primary east/west traveling thoroughfare for residents living in northern Colorado Springs. The asset benefits from nearby direct on/off ramp access to Interstate 25 and is clearly visible from the freeway with tall pylon signage indicating its location. The Outback is well positioned adjacent to a number of hotels such as Staybridge Suites, Holiday Inn, Fairfield Inn, Hampton Inn, Best Western, and Embassy Suites, all of which are within walking distance and provide a direct consumer base from which to draw from. Within a 2-mile radius, nearby national/credit tenants including The Home Depot, Whole Foods Market, Ross Dress for Less, 24 Hour Fitness, Best Buy, Hobby Lobby, King Soopers, Bed Bath & Beyond, Sam’s Club, and more, further increasing consumer draw to the area. The Chapel Hills Mall, a 1.1M SF enclosed mall is just 3-miles north with 154 stores anchored by Dillard’s, Macy’s, Burlington, Dick’s, and AMC Theatres. The 5-mile trade area is supported by a population of over 193,700 with an affluent average household income of $125,371.

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Listing ID: a28TP000002m2XqYAI