Outback Steakhouse 4871 E. Grant Road, Tucson, AZ Cap Rate 6% tucson (Tucson, Arizona, US ) Built

$4,155,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 6,561 sq. ft.
  • Development Level: Built
  • Year Built: 1995

Description

Outback Steakhouse 4871 E. Grant Road, Tucson, AZ Cap Rate 6%

Cap Rate: 6%
NOI: $249,288
Building Size: 6,561 sqft
Occupancy: 100%
Year Built: 1995

Price: $4,155,000 USD

DESCRIPTION
SRS is pleased to offer the opportunity to acquire the fee simple interest (land and building) in an absolute NNN, freestanding, Outback Steakhouse investment property located in Tucson, AZ. The tenant recently signed a brand new 25-year 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 and 10% increases at the beginning of each option period, generating healthy NOI growth. The lease is franchisee guaranteed by Cerca Trova, an experienced Outback Steakhouse 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 this an ideal, management-free investment for an out-of-state, passive investor.

The Outback Steakhouse is strategically located along E. Grant Road (39,600 VPD), a major east/west commuter thoroughfare for the Greater Tucson Metro. The asset is ideally positioned as an outparcel to the Crossroads Festival shopping center anchored by Fry’s, Roadhouse Cinemas, and Bed Bath & Beyond, promoting crossover traffic to the site. Other nearby national/credit tenants include Target, Costco, Whole Foods, Ross, Trader Joes, PetSmart, and more, further increasing consumer draw to the trade area. Additionally, the property sits adjacent to the Tucson Medical Center (641 beds), a regional hospital with over 30,000 inpatients and 120,000 outpatients annually, providing a direct consumer base to draw from. Moreover, the asset is just 4 miles northeast of the University of Arizona with over 44,000 students currently enrolled. The 5-mile trade area is supported by a dense population of over 275,800 residents with an average household income of $65,215.

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
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.