Outback Steakhouse

5,000 SF | Retail Building | Clayton, NC 27520 | $3,495,000 ($699/SF) | 5.15% Cap Rate

Asking Price $3,495,000

Property Type: Retail, Restaurant
Square Feet: 5,000 SF
Price / Square Foot: $699

Listing Contacts

David Hoppe

Verified Profile

Ben Olmstead

Verified Profile

Property Info

Property Overview

ATTRACTIVE LEASE FUNDAMENTALS
- New 15 year Abs. NNN Ground Lease
- 10% rent increases every 5 years
- No Landlord responsibilities
GLOBALLY RECOGNIZED BRAND
- Outback Steakhouse has over 1,300 locations in 23 countries throughout North and South America, Asia, and Australia
- Outback is a subsidiary of Bloomin’ Brands Restaurant Group
- Bloomin’ Brands reported over $4.4 billion in revenue
A TOP PERFORMING MARKET NATIONALLY
- Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
- Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)
POSITIONED ON A RETAIL CORRIDOR
- Over 627KSF of retail space located in a 1-mile radius
- Nearby National Retailers include: Lowes Foods, Walmart Super Center, Bojangles, Biscuitville, Arby’s, Dairy Queen and Culvers
HIGHLY VISIBLE AND TRAFFICKED LOCATION
- Fronting US 70 BUS Hwy W (40,500 VPD)
- Direct Access to Cameron Crossing, a 200 unit townhome community
- Less than quarter mile to Stalling Mills, a 288 unit apartment complex
NEW CONSTRUCTION
- Newly built Outback, building being constructed by Tenant with newest restaurant prototype

Property Details

Year Built: 2024
Stories: 1
Property Subtype: Storefront
Lot Size (sq. ft): 81,457 SF

Highlights

A TOP PERFORMING MARKET NATIONALLY
HIGHLY VISIBLE AND TRAFFICKED LOCATION
ATTRACTIVE LEASE FUNDAMENTALS

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