Carrabba's Italian Grill

Highlights:

• Absolute NNN lease.
• Corporate guarantee with Bloomin’ Brands, Inc (NASDAQ: BLMN) includes Outback Steakhouse, Bonefish Grill & Fleming’s Steakhouse & Wine Bar.
• Annual rent increases.
• Florida has no state income tax.

Description:

SLN Capital Markets, a division of S.L. Nusbaum Realty Co., is pleased to exclusively present for sale the property leased to Carrabba’s Italian Grill located at 2700 SE Federal Highway in Stuart, Florida.

Carrabba’s has been operating at this location for nearly 20 years and signed a new 15-year lease in 2017 with annual rent increases throughout the term and during the option periods. The lease is guaranteed corporately by Bloomin’ Brands, a publicly traded company (NASDAQ: BLMN) that includes Outback Steakhouse, Carrabba’s, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar.

The 7,123 SF building sits on approximately 1.60 AC along heavily traveled Federal Hwy (US-1), a major retail corridor featuring shopping centers, car dealerships and dozens of national retailers. There are more than 3000 apartments within a 3-mile radius of the restaurant including 10X Harbour Cay (272 units), which is within walking distance.

The lease is Absolute NNN with zero landlord responsibilities.

Stuart is the county seat of Martin County, Florida, and sits on the border of neighboring Palm Beach County. Stuart’s population has grown significantly, with estimates showing nearly 18% growth since 2020.

The city benefits from a stable and diverse economy supported by healthcare, professional services, tourism, retail, marine industries, and government employment. Stuart’s coastal location along Florida’s Treasure Coast, combined with strong quality-of-life attributes and a favorable tax environment, continues to attract residents, visitors, and businesses to the area.

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