Carrabba’s Italian Grill

Retail

11590 Research Blvd Austin, TX
Price:
$ 2,995,182
Property Size:
6,528 sqft
Cap Rate:
5.50
NOI:
$ 164,735
Lot Size:
1.88 acres
Year Built:
1994
Status:
Sold

MARKET RENT & RENT INCREASES

The lease to Carrabba’s has above average store performance, reflected by a strong rent/sales ratio of 7%. As a result, Carrabba’s has established a strong position in the sub-market’s casual dining market. The rent grows by 1% annually, growing the yield an investor would expect to receive over time.

TENANT COMMITMENT & TERM

Carrabba’s, which has been operating at this location since 1994, recently signed a new 15 year lease, demonstrating commitment by a premier casual dining operator to this location.

TENANT COMMITMENT & TERM

The property operates under a triple net lease structure, with Carrabba’s reimbursing the landlord all operating expenses, taxes, and insurance.
This lease features zero landlord responsibilities, reflective of the most passive net lease investment type.

AFFLUENT AND GROWING TRADE AREA

Located in Austin, TX, an infill, high density location at the heart of the Austin MSA, which is easily accessible from the 183 Highway.The Research Blvd-Duval Rd intersection experiences over 160,000 vehicles per day. Austin is one of the fastest growing and most prosperous cities in the country, with nearly 100,000 residents and household incomes exceeding $106,000 within 3 miles of the property.

 

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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Exclusive Listing

Matt Berres
Executive Managing Director
949.608.2066

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