Outback Steakhouse 2701 East Irlo Bronson Memorial Highway, Kissimmee, FL Cap Rate 5.5% Kissimmee ( Florida, US ) Built

$2,550,000 USD
Dollars

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  • Type: Commercial
  • Style: Commercial
  • Size: 6,543 sq. ft.
  • Development Level: Built
  • Lot Size: 1.39 acres
  • Year Built: 2019

Description

Outback Steakhouse 2701 East Irlo Bronson Memorial Highway, Kissimmee, FL Cap Rate 5.5%

Cap Rate:5.5%
NOI: $140,000
Building Size: 6,543 sqft
Lot Area:1.39 acres
Occupancy: 100%
Year Built: 2019
Price Per Sqft: $389.73
Tenancy: Single

Price: 2,550,000 USD

DESCRIPTION
Pleased to present the opportunity to acquire a brand-new Outback Steakhouse in Kissimmee, Florida. This Outback Steakhouse is a relocation store from a nearby unit. The property has a new 10-year, triple net lease and offers four, five-year renewal options. There are 10 percent rent increases every five years throughout the base term and option periods. The subject property is an outparcel to St. Cloud Commons Shopping Center which is anchored by Hobby Lobby, Marshalls, Ross, Old Navy, PetSmart, Five Below and Ulta Beauty.

The area has strong demographics with a population over 100,000 within a five-mile radius of the subject property. It is also located off Irlo Bronson Memorial Highway with a daily traffic count of 40,500 vehicles. The subject property is conveniently situated at the off ramp for Florida’s Turnpike with a daily traffic count of more than 68,000 vehicles. The property is in a high-traffic, busy retail area. In additional to St. Cloud Commons, surrounding national retailers include Walmart Supercenter, Home Depot, Publix, Aldi, Staples, Rent-A-Center, Planet Fitness, Bealls Outlet, Big Lots, Chili’s, Dunkin Donuts, Starbucks, Chick fil A, Pep Boys, Walgreens, CVS and many more. This Outback is one mile from a new, 20,000-square-foot AdventHealth Emergency Department and 35,000-square-foot Medical Office Building, both are currently under construction.

The subject property is part of the Orlando metro area, which is one of the largest and fastest growing areas in Florida with a population of more than 2.4 million residents. Tourism plays a major role in the area’s economy with Walt Disney World, SeaWorld Orlando and Universal Studios Orlando, all with in close proximity. Kissimmee is in Osceola County which is amongst the fastest growing counties in the nation, exceeding over 20 percent population growth in the last five years.

HIGHLIGHTS
• New Construction; Relocation Store from Nearby Unit
• Long-Term, Triple Net (NNN) Ground Lease
• Four, Five-Year Renewal Options with 10 Percent Rent Increases Every Five Years in Base Term and Option Periods
• Outparcel to St. Cloud Commons Shopping Center | Tenants Include Hobby Lobby, Marshalls, Ross, Old Navy, PetSmart, Five Below and Ulta Beauty
• Located off Irlo Bronson Memorial Highway with a Daily Traffic Count of 40,500 Vehicles
• Situated at the off Ramp for Florida’s Turnpike Which has a Daily Traffic Count of More Than 68,000 Vehicles

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
# ID de Propiedad: 358038156
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.