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3531 US-280 Hwy
Phenix City, AL 36867
Outback Steakhouse Ground Lease · Retail Property For Sale
Investment Highlights
- New 12-year absolute NNN corporate ground lease, backed by 670+ locations.
- Absolute NNN ground lease requires zero landlord maintenance, ideal for a potential out-of-area investor.
- 10% rental increases through initial term and option periods, ensuring consistent income growth
- Parent company, Bloomin’ Brands, Inc. (NASDAQ: “BLMN”) Q3 2025 results showed total quarterly revenues rising from $910M to $929M compared to Q3 2024
Executive Summary
The property offers a prime retail location with strong visibility and easy access along U.S. Route 280, benefiting from approximately 33,899 vehicles per day. The tenancy is anchored by Outback Steakhouse, a globally recognized brand with more than 670 locations. The surrounding trade area is supported by a strong demographic base, with a population of 97,654 within a five-mile radius and an average annual household income of $74,526. The site is situated within a newly constructed 11.6-acre retail development that includes major traffic drivers such as Starbucks, Chipotle, Valvoline, and Peachtree Immediate Care. The building is new construction, completed in 2025 and built to Outback Steakhouse’s latest prototype. Additionally, projected income growth within the one-, three-, and five-mile radii over the next five years positions both the property and the Phenix City market for sustained, parallel growth.
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,694 SF
Building Class
C
Year Built
2025
Price
$4,727,822 CAD
Price Per SF
$1,007.21 CAD
Cap Rate
5.50%
NOI
$259,996 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
2.11 AC
Zoning
C - Commercial
Parking
116 Spaces (24.71 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 01-09-32-04-001-001.000 | Improvements Assessment | $5,226 CAD |
| Land Assessment | $221,118 CAD | Total Assessment | $226,343 CAD |
Property Taxes
Parcel Number
01-09-32-04-001-001.000
Land Assessment
$221,118 CAD
Improvements Assessment
$5,226 CAD
Total Assessment
$226,343 CAD
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