Outback Steakhouse NNN Property For Sale — Des Plaines, IL
2805 Mannheim Road, Des Plaines, IL 60018
This offering presents an exceptional opportunity to acquire a single-tenant ground-leased Outback Steakhouse, strategically located in Des Plaines, Illinois, within the robust Chicago MSA. Constructed in 2024, the property boasts a long-term lease extending through July 2039. This triple-net ground lease offers investors a passive income stream with no landlord responsibilities, complemented by attractive 10% rental escalations every five years throughout the primary term and across four subsequent 5-year renewal options. Outback Steakhouse operates as a wholly owned subsidiary of Bloomin’ Brands, a publicly traded entity (NASDAQ: BLMN). The 5,000-square-foot building commands excellent visibility along Mannheim Road, experiencing daily traffic counts in excess of 29,000 vehicles. Its pr…
- Address: 2805 Mannheim Road, Des Plaines, IL 60018
- Asking price $3.13M
- 5.75% cap rate
- NOI $180,000
- 12.9 years remaining
- NNN lease
- Year built: 2024
- Building size: 5,000 SF
- Lease expiration: Jul 31, 2039
- Rent increases: 10% every 5 years
- Guarantor: Corporate
Location
This Outback Steakhouse property is at 2805 Mannheim Road in Des Plaines, Illinois.
Asset type: Restaurant