Outback Steakhouse
Leesburg, VA
Key Details
| Price: | $3,876,190 |
|---|---|
| Cap Rate: | 5.25% |
| Annual Rent: | $203,500 |
| Address: | 225 Fort Evans Road, Leesburg, Virginia 20176 |
| Property Type: | Retail |
| Lease Type: | Ground |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 8/23/2021 |
| Lease Expiration: | 8/31/2036 |
| Lease Term Remaining: | 11.4 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 1.10 Acres |
| Building Size: | 4,988 SF |
| Year Built: | 1999 |
| Year Renovated: | 2001 |
NNN Pro is pleased to present the exclusive listing for a Outback Steakhouse located at 225 Fort Evans Road, Leesburg, Virginia 20176. The site consists of roughly 4988 rentable square feet of building space on an estimated 1.1-acre parcel of land. This Outback Steakhouse is subject to a 15-year Ground lease, which commenced 8/23/2021. The current annual rent is $203,500 and has scheduled increases of 10.00% Every 5 Years.
About the Investment
- Outback Steakhouse in Prime Washington, DC MSA Suburban Market Rare opportunity to acquire an Ouback Steakhouse in Leesburg, VA, an affluent northern Virginia suburb of Washington, DC.
- Strategic Location as Pad Site to Leesburg Premium Outlets - Leesburg Premium Outlets Attracts Over 3.1M Visitors Per Year and is a Primary Draw of Consumers to Leesburg’s Route 15 Commercial Corridor
- Coveted Location in Leesburg (Loudoun County), VA - Consistently Ranked the Wealthiest County in the U.S.
- Superior Demographics - Population exceeding 100,000 and AHHI over $172,000 within a 5-mile Radius
- Long Term Corporate NNN Ground Lease with 10% Bumps Every 5 Years - Nearly 12 years remaining on the primary term of the lease guaranteed by Bloomin' Brands, Inc.
- High Barrier to Entry Market The Route 15 corridor in Leesburg, VA is a highly desired commercial corridor with very limited pad site supply that is in high demand for local and national retailers.
Key Details
| Price: | $3,876,190 |
|---|---|
| Cap Rate: | 5.25% |
| Annual Rent: | $203,500 |
| Address: | 225 Fort Evans Road, Leesburg, Virginia 20176 |
| Property Type: | Retail |
| Lease Type: | Ground |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 8/23/2021 |
| Lease Expiration: | 8/31/2036 |
| Lease Term Remaining: | 11.4 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 1.10 Acres |
| Building Size: | 4,988 SF |
| Year Built: | 1999 |
| Year Renovated: | 2001 |
Talk to the Pros
David Weber
dweber@nnnpro.com
License: VA: 0225099500 | MD: 574119 | DC: SP98363183
Ken Tamres
ktamres@nnnpro.com
License: VA: 0225205054
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Broker of Record
Brian Brockman
Bang Realty, Inc
License: 225245999
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.