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2700 SE Federal Hwy
Stuart, FL 34994
Carrabba's with Bloomin' Brands Guarantee · Retail Property For Sale
Investment Highlights
- Absolute NNN lease.
- Annual Rent Increases.
- Corporate guarantee with Bloomin’ Brands, Inc (NASDAQ: BLMN).
- Florida has no state income tax.
Executive Summary
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.
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.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
7,123 SF
Building Class
B
Year Built
1995
Price
$4,818,260 CAD
Price Per SF
$676.44 CAD
Cap Rate
6.10%
NOI
$293,914 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.60 AC
Zoning
B-1
Parking
72 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
238’ on SE Federal Hwy
Amenities
- Pylon Sign
Property Taxes
| Parcel Number | 38-38-41-006-000-00010-6 | Improvements Assessment | $1,495,504 CAD |
| Land Assessment | $1,589,302 CAD | Total Assessment | $3,084,806 CAD |
Property Taxes
Parcel Number
38-38-41-006-000-00010-6
Land Assessment
$1,589,302 CAD
Improvements Assessment
$1,495,504 CAD
Total Assessment
$3,084,806 CAD
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