Outback Steakhouse

245 State Route 312, St. Augustine, FL 32086

$4,745,000

Cap Rate 5.25%

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DOM: 5 Updated: 08.21.25 Posted: 08.21.25 Status: Active 08.21.25

Summary

Price $4,745,000		Tenant Outback Steakhouse
Cap Rate 5.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 6,115	Lease Start 05-18-2016	#Units 935
Price/SF $775.96	Expiration 05-31-2031	Tenant Type Casual Dining
NOI $249,132	R. Term 5.9	Ownership Fee Simple
Rent/SF $40.74	Increases 1.0%/2/yrs	Pop 5Mi 74,028
Lot/AC 1.72	Options 4/5yrs/1%	AHHI 5Mi $100,677

Highlights

Outback Steakhouse has operated at this location for over 17 years under a 15-year lease, with 4 (5-year) extension options
The lease features 1% annual rent increases
Four 5-year renewal options with scheduled 1% annual increases and FMV reset in second option
Absolute NNN Lease | Zero Landlord Responsibilities
Corporate guarantee

Location Description

Outback Steakhouse is strategically located along Florida State Road 312 in St. Augustine, FL, with access to a daily traffic count of approximately 38,500 vehicles on SR-312 and 41,900 vehicles on Dixie Highway. The site is surrounded by major national retailers including Walmart Supercenter, Target, The Home Depot, Lowe’s Home Improvement, Publix, CVS, ALDI, Starbucks, McDonald’s,...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Affluent AHHI $100K 5 Mi
Major MSA
Long operation history
Long 15+ yr lease
Traded and rated company
Corporate Guarantee

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Links

Outback Steakhouse Wikipedia Outback Steakhouse Wikipedia St. Augustine, FL Zip Code 32086 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Outback Steakhouse
Guarantor:Corp T and Rated
Company:Bloomin' Brands, Inc.
# Units:935
Tenant S&P: BB-
Moody’s: B2
Stock: NASDAQ: BLMN

About Tenant

Outback Steakhouse is a chain of Australian-themed casual dining restaurants, serving American cuisine. Best known for grilled steaks, chicken, and seafood, Outback also offers a wide variety of...

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Listing Broker

Eric Carlton

Colliers NNN Group

Contact

181 Listings
52189 Views
72 Sold

Jereme Snyder

Colliers NNN Group

Contact

169 Listings
48467 Views
66 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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