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Outback Steakhouse: Abilene, TX 4142 Ridgemont Dr

6,172 SF Retail Building Abilene, TX 79606 $3,506,900 ($568/SF) 6.25% Cap Rate

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Investment Highlights

Absolute NNN lease features ±12.0 years of primary term remaining with three 5-year renewal options and a corporate guaranty from Bloomin’ Brands.
Located along Ridgemont Drive (11,238 VPD), which intersects with South Clark Street (13,350 VPD) and provides access to US-83 (33,876 VPD).
5.4 MSF of retail, 1.4 MSF of office, 1.2 MSF of industrial, and 1,404 hotel rooms within a 3-mile radius.

The offering boasts rare annual rent increases of 1.8%.
Outback is an outparcel to a Lowe’s-anchored shopping center.
The site captures significant traffic from the dense concentration of residential within 1 mile: 4,210 households & nearly 2,000 multifamily units.

Executive Summary

CBRE is pleased to exclusively offer for sale the 6,172-square-foot Outback Steakhouse situated on 1.53 acres in Abilene, TX (MSA Population: 177,314). Outback's absolute NNN lease features ±12.0 years of primary term remaining with three 5-year renewal options and a corporate guaranty from Bloomin’ Brands, Inc. The offering boasts rare annual rent increases of 1.8%.