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OUTBACK STEAKHOUSE GROUND LEASE RELOCATION STORE, Columbus, GA

OUTBACK STEAKHOUSE GROUND LEASE RELOCATION STORE

Columbus, GA

Price $3,000,000
Cap Rate 4.50%
NOI $135,000
Lease Term 10 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For Taxes, Insurance, And Maintenance Of The Building And Property
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2021
Building Size 6,000 SF
Lot Size 1.7 Acres (73,974 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

10-YEAR ABSOLUTE NNN GROUND LEASE TO CORPORATE TENANT
» Outback Steakhouse operates more than 1,000 locations in 23 countries throughout North and South America, Asia, and Australia
» Tenant is responsible for taxes, insurance, and all maintenance
» No landlord management, ideal investment opportunity for an out-of-area investor
» Relocation store from successful and long-term Columbus shopping center location to a freestanding building
» 2021 construction featuring latest Outback Steakhouse prototype

HIGH-VISIBILITY AND EASILY ACCESSIBLE LOCATION IN GROWING COMMUNITY
» Central location with high-visibility along U.S. Highway 80 (57,900 AADT) on the southwest corner of Livingston Drive and Whittlesey Boulevard (16,300 AADT), which leads to Columbus Crossings retail area
» Outparcel to Academy Sports + Outdoors-anchored shopping center with beneficial proximity to Moon Road (40,000 AADT) and U.S. Route 27/Veterans Parkway (20,100 AADT)
» Main entrance to shopping center via Whittlesey Boulevard has a traffic light, increasing visibility to the site
» Convenient access to Interstate 185 (57,700 AADT), a gateway to Downtown Atlanta, the most populous city in Georgia (population 506,811)
» 99,949 residents live within a five-mile radius
» Average household income of $82,835 within three miles of the property

CENTRAL COLUMBUS LOCATION NEAR SCHOOLS, RETAILERS, AND COMMUNITY HUBS
» Adjacent to Candlewood Suites Columbus-Northeast (83 rooms) and Homewood Suites by Hilton Columbus (91 rooms), providing a stable customer base
» Minutes from Columbus Park Crossing, a highly trafficked shopping mall surrounded by major national retailers such as Walmart Supercenter, Hobby Lobby, Best Buy, Ashley HomeStore, DICK’S Sporting Goods, Sam’s Club, Lowe’s Home Improvement, Winn-Dixie, and many more
» Near large schools like Shaw High School (1,154 students) and Northside High School (1,535 students)
» 2.3 miles from Piedmont Columbus Regional Northside Campus (100 beds, 3,000+ employees)
» 3.3 miles from Columbus Airport ($94 million annual economic impact)
» 17 miles from Fort Benning (120,000 active-duty military, family members, reserve component soldiers, retirees, and civilian employees daily. It accounts for more than 40,000 jobs and has an annual impact of $5 billion on the local economy)



Property Description

The subject property has an easily accessible location on the southwest corner of Livingston Drive and Whittlesey Boulevard (16,300 AADT). The property is strategically located along U.S. Highway 80 with high-visibility and access to 57,900 vehicles per day near the location. The site maintains beneficial proximity to Moon Road (40,000 AADT) and U.S. Route 27/Veterans Parkway (20,100 AADT). Additionally, the property provides convenient access to Interstate 185 (57,700 AADT), a gateway to Downtown Atlanta, the most populous city in Georgia (population 506,811). The subject property is an outparcel to Academy Sports + Outdoors. The main entrance to shopping center is via Whittlesey Boulevard, which has a traffic signal for added visibility to the site. The site is also walking distance to Candlewood Suites Columbus-Northeast (83 rooms) and Homewood Suites by Hilton Columbus (91 rooms).

The site is minutes from Columbus Park Crossing shopping mall and surrounded by major national retailers such as Walmart Supercenter, Hobby Lobby, Best Buy, Ashley HomeStore, DICK’S Sporting Goods, T.J. Maxx, Sam’s Club, Lowe’s Home Improvement, Winn-Dixie, and many more. Piedmont Columbus Regional Northside Campus is an acute care hospital located 2.3 miles from the site with over 3,000 employees. The property is near large schools such as Shaw High School (1,154 students) and Northside High School (1,535 students). The location serves a growing community with 99,949 residents living within a five-mile radius, providing a strong customer base. The average household income is $82,835 within three miles of the property with a projected 14 percent increase by 2026, poising Columbus and Outback Steakhouse for concurrent growth.

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