665 E Disk Dr 5,724 SF Retail Building Rapid City, SD 57701 $1,793,805 CAD ($313.38 CAD/SF) 7% Cap Rate

Bang Realty is pleased to present the fee-simple sale of a 6,500 SF Outback Steakhouse situated on 1.209 acres at 665 E Disk Dr in Rapid City, SD — directly off Interstate 90 within the dominant retail corridor of western South Dakota. The property is offered at $1,311,414 at a 7.00% cap rate on $91,799 in NOI, reflecting the in-place fourth and final option period running through 11/30/2030.
The site has operated continuously as an Outback Steakhouse for ±25 years (since November 2000) and is operated by Evergreen Restaurant Group LLC, a ±35-40 unit Bloomin' Brands franchisee with an approximately 30-year operating history across seven states. Tenant reports unit-level sales, with current rent representing only ±3% of gross sales — a healthy occupancy cost well below industry benchmarks for casual dining, signaling strong store-level profitability and durable tenant commitment beyond the option expiration.
Outback Steakhouse is operated under franchise with Bloomin' Brands, Inc. (NASDAQ: BLMN), which owns, operates, and franchises 1,450+ restaurants across 46 states, Guam, and 12 countries. The site is positioned along the Heartland Expressway with ±23,815 VPD, direct I-90 visibility, and immediate adjacency to four hotels — Hilton Garden Inn, Holiday Inn Express, Country Inn & Suites, and Staybridge Suites — providing a built-in nightly customer base. The trade area is anchored by Ellsworth Air Force Base, the future home of the B-21 Raider stealth bomber program, which is driving over $2 billion in active military construction and is expected to add ±4,000 new personnel and dependents to the regional population over the next two decades. This represents a once-in-a-generation demand tailwind for a market that already serves as the primary economic, healthcare, and tourism hub for the Black Hills region.