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Outback Steakhouse 225 Fort Evans Rd NE 4,988 SF Retail Building Leesburg, VA 20176 $3,876,190 ($777.10/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Outback Steakhouse in Prime Washington, DC MSA Suburban Market
- Coveted Location in Leesburg (Loudoun County), VA - Consistently Ranked the Wealthiest County in the U.S.
- Long Term Corporate NNN Ground Lease with 10% Bumps Every 5 Years
- Strategic Location as Pad Site to Leesburg Premium Outlets - Leesburg Premium Outlets Attracts Over 3.1M Visitors Per Year
- Superior Demographics - Population exceeding 100,000 and AHHI over $172,000 within a 5-mile Radius
- High Barrier to Entry Market
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for an Outback Steakhouse located at 225 Fort Evans Rd, Leesburg, VA 20176. The site consists of roughly 4,988 rentable square feet of building space on an estimated 1.1-acre parcel of land. This Outback Steakhouse is subject to a 15-year Ground lease, which commenced 8/23/2021.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,988 SF
Building Class
B
Year Built
2021
Price
$3,876,190
Price Per SF
$777.10
Cap Rate
5.25%
NOI
$203,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.10 AC
Parking
177 Spaces (35.49 Spaces per 1,000 SF Leased)
Frontage
198’ on Fort Evans Road Northeast
AMENITIES
- Restaurant
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
- -
- -
- Triple Net
- Aug 2036
Outback Steakhouse is an Australian-inspired steakhouse restaurant beloved worldwide. They pride themselves on serving up variety; their unbeatable steak cuts are complemented by delicious choices of chicken, ribs, seafood, and pasta at a price for everyone. Their strategy? They're the leader of the pack by emphasizing consistently high quality delicious food delivering a warm, welcoming environment. Their generous portions are moderately priced. Their casual atmosphere couldn't be more transporting - it's like you're right there in the Australian Outback.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | - | - | Triple Net | Aug 2036 |
TRAFFIC
| COLLECTION STREET | CROSS STREET | TRAFFIC VOLUME | YEAR | Distance |
|---|---|---|---|---|
| Fort Evans Rd NE | Potomac Station Dr NE, SE | 9,067 | 2022 | 0.12 mi |
| Leesburg Byp | Fort Evans Rd NE, NE | 41,843 | 2022 | 0.15 mi |
| Leesburg Bypass | Heritage WayNE, N | 45,939 | 2022 | 0.17 mi |
| Leesburg Byp | Edwards Ferry Rd NE, N | 41,899 | 2022 | 0.27 mi |
| Edwards Ferry Rd NE | Leesburg Byp, W | 13,846 | 2022 | 0.30 mi |
| Edwards Ferry Road Northeast | Leesburg Byp, W | 13,905 | 2022 | 0.30 mi |
| Edwards Ferry Rd NE | Leesburg Byp, E | 15,782 | 2022 | 0.32 mi |
| Fort Evans Road Northeast | Evans Ridge Dr, NW | 11,918 | 2022 | 0.35 mi |
| Fort Evans Road NE | Evans Ridge Dr, NW | 11,918 | 2022 | 0.35 mi |
| Edwards Ferry Road Northeast | Heritage WayNE, E | 16,884 | 2022 | 0.40 mi |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 188-10-1583 | Improvements Assessment | $1,297,510 |
| Land Assessment | $1,282,000 | Total Assessment | $2,579,510 |
PROPERTY TAXES
Parcel Number
188-10-1583
Land Assessment
$1,282,000
Improvements Assessment
$1,297,510
Total Assessment
$2,579,510
MAP
ADDITIONAL PHOTOS
Aerial