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Outback Steakhouse 4500 Franklin Ave 6,163 SF Retail Building Waco, TX 76710 $3,082,385 CAD ($500.14 CAD/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Long Term Absolute Triple-Net (NNN) Lease There are over six (6) years remaining on an original 15-year absolute triple-net (NNN) lease
- Strong Traffic Counts The property is located along Franklin Avenue, which receives over 30,000 vehicles per day
- Corporate Guarantee Outback Steakhouse is a casual steakhouse restaurant focused on steaks, signature flavors, and Australian-inspired decor
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for an Outback Steakhouse located at 4500 Franklin Ave, Waco, TX 76710. The site consists of roughly 6,163 rentable square feet of building space on an estimated 1-acre parcel of land. This Outback Steakhouse is subject to a 15-year Select Lease Type lease, which commenced 8/31/2016. The current annual rent is $143,603 and has scheduled increases of 1.00% annually.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,163 SF
Building Class
B
Year Built
1996
Price
$3,082,385 CAD
Price Per SF
$500.14 CAD
Cap Rate
6.50%
NOI
$200,355 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.00 AC
Zoning
C-3
Frontage
245’ on Franklin Ave
AMENITIES
- Freeway Visibility
- Pylon Sign
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 48-018413-000200-1 | Improvements Assessment | $3,129,444 CAD |
| Land Assessment | $1,066,084 CAD | Total Assessment | $4,195,529 CAD |
PROPERTY TAXES
Parcel Number
48-018413-000200-1
Land Assessment
$1,066,084 CAD
Improvements Assessment
$3,129,444 CAD
Total Assessment
$4,195,529 CAD
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Outback Steakhouse | 4500 Franklin Ave
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