Carrabba's Italian Grill

7401 West 92nd Avenue, Westminster, CO 80021

$3,135,289

Cap Rate 6.00%

Updated: 01.13.24 Posted: 08.30.23 Status: Sold

Summary

Price $3,135,289	Built/Renov 1996	Tenant Carrabba's Italian Grill
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 6,671	Lease Start 09-30-2016	#Units 220
Price/SF $469.99	Expiration 09-30-2036	Tenant Type Casual Dining
NOI $188,117	R. Term 11.4	Ownership Fee Simple
Rent/SF $28.20	Increases 1.8%/1/yrs	Pop 5Mi 304,867
Lot/AC 1.46	Options 3/5yrs/1.8%	AHHI 5Mi $114,401

Lease Highlights

Carrabba’s has a 24+ year operating history at this location
Tenant has 13+ years remaining on its current lease term with 3 (5-year) options to extend
Lease features 1.8% annual rental increases
Absolute NNN | Zero Landlord Responsibilities
Corporate guarantee by Bloomin' Brands (NASDAQ: BLMN)

Location Description

Carrabba’s is located on a hard corner at the signalized intersection of Wadsworth Boulevard (6,843 VPD) and West 92nd Ave (22,665 VPD), which intersects with Wadsworth Parkway (56,000 VPD). It is part of a shopping center with Advance Auto Parts, Brakes Plus, Discount Tire, Ludwig Martial Arts, and many more. The site is also across from the 158,087-square-foot Brookhill Village shopping...

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Key Features

Signalized intersection
High traffic 50M+ VPD
Dense retail corridor
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long operation history
Absolute NNN
Annual rent increases
Traded and rated company
Corporate Guarantee

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Links

Carrabba's Italian Grill Wikipedia Carrabba's Italian Grill Wikipedia Westminster, Colorado Zip Code 80021 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Carrabba's Italian Grill
Guarantor:Corp T and Rated
Company:Bloomin’ Brands, Inc.
# Units:220
Tenant S&P: BB-
Moody’s: Ba3
Stock: NASDAQ: BLMN

About Tenant

Carrabba's Italian Grill (or simply Carrabba’s) is an American restaurant chain featuring Italian-American cuisine, and is the second largest Italian themed restaurant chain in the United...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	16,504	110,459	303,468
2023 Total Population :	16,201	109,863	302,669
2023 Employed Civilian Pop :	10,298	64,474	169,648
2023 Total Businesses :	484	2,634	8,647
2023 Average Household Income :	$ 112,884	$ 116,547	$ 112,162
2023 Total Consumer Spending :	$ 709 M	$ 4422 M	$ 11558 M
2023 Median Age :	36	40	38
2023 Total Households :	7,243	44,259	119,663
2023 Pop Age 25+: Bachelor's Degree :	3,767	22,990	56,081
2023 Average Home Value :	$ 500,147	$ 534,785	$ 512,003

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W 92nd Ave	Vance St	2018	22,665	0.07 mi
Wadsworth Boulevard	W 96th Ave	2021	9,405	0.14 mi
Wadsworth Blvd	W 92nd Ave	2018	6,843	0.14 mi
West 92nd Avenue	Ingalls St	2021	24,442	0.19 mi
W 92nd Ave	Wadsworth Pkwy	2018	25,028	0.20 mi
Wadsworth Pkwy	Yukon St	2006	43,200	0.23 mi
Wadsworth Pkwy	W 92nd Ave	2015	42,482	0.27 mi
Wadsworth Parkway	W 116th Cir	2022	37,485	0.27 mi
Wadsworth Pkwy	W 90th Ave	2017	56,000	0.28 mi
Wadsworth Pkwy	W 92nd Ave	2018	41,550	0.30 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
26710 Views
79 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
26026 Views
76 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
26897 Views
78 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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