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3645 S Virginia St
Reno, NV 89502
Outback Steakhouse | Abs NNN · Retail Property For Sale
Investment Highlights
- Over 18 Years Remaining | Rare Annual Increases |Options to Extend | Strong Sales | Franchisee Guaranteed by Cerca Trova
- Near Signalized, Hard Corner Intersection | Major Thoroughfare | Excellent Visibility & Access
- Close Proximity to Reno-Tahoe International Airport |Across From Atlantis Casino Resort Spa (800+ Rooms)
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Across From Reno Town Mall | Primary Retail Corridor
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease Group 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 Reno, NV. The tenant, Outback Steakhouse, has over 18 years remaining on the initial lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features rare 2% annual rental increases throughout the initial term, steadily growing NOI and hedging against inflation. The lease is franchisee guaranteed by Cerca Trova, an experienced Outback Steakhouse Franchisee 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 it an ideal, management-free investment opportunity for a passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,090 SF
Building Class
B
Year Built
1997
Price
$5,477,705 CAD
Price Per SF
$899.46 CAD
Cap Rate
5.50%
NOI
$301,288 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.77 AC
Zoning
MU - Mixed Use
Parking
111 Spaces (18.23 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Restaurant
Property Taxes
| Parcel Number | 024-020-20 | Improvements Assessment | $392,553 CAD |
| Land Assessment | $537,091 CAD | Total Assessment | $929,643 CAD |
Property Taxes
Parcel Number
024-020-20
Land Assessment
$537,091 CAD
Improvements Assessment
$392,553 CAD
Total Assessment
$929,643 CAD
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