Carrabba's Italian Grill For
For Sale
$3,539,455
2700 SE Federal Hwy, Stuart, FL 34994
NNN leased restaurant property with corporate guarantee and rent increases.
Property Size7,123 SF
Days on Market159
Property Features for 2700 SE Federal Hwy
General Information
Standard status
Active
Size
7,123 SF
Class
B
Property subtype
Retail
Net Operating Income
$215,907
Building Details
Building Size
7,123 SF
Year Built
1995
Listing Agency:
S.L. Nusbaum Realty Co
(757) 287-1490
Listed By:
Doug Aronson · License #BK3274104
(757) 287-1490
Source:
Slnusbaum
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 8 at 1:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of S.L. Nusbaum Realty Co
Investment Insights
Based on property information with market context.
The property, leased to Carrabba’s Italian Grill, is available for sale. It is located at 2700 SE Federal Highway in Stuart, Florida, the county seat of Martin County, bordering Palm Beach County. Stuart has experienced significant population growth, with estimates indicating nearly 18% growth since 2020. The lease is an absolute NNN lease with annual rent increases. The lease is corporately guaranteed by Bloomin’ Brands, Inc (NASDAQ: BLMN), which also includes Outback Steakhouse, Bonefish Grill & Fleming’s Steakhouse & Wine Bar. Florida has no state income tax.
Key Highlights
- Absolute NNN lease offering zero landlord responsibilities.
- Corporate guarantee from Bloomin’ Brands, Inc (NASDAQ: BLMN).
- Located in Stuart, Florida, experiencing significant population growth (18% since 2020).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$130,990
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,619,800
$2.6M
Cap Rate 7%
$1,871,286
$1.9M
Cap Rate 9%
$1,455,444
$1.5M
Market Conditions
NOI Build-Up for 7,123 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$192.3K $27.00/SF
− Vacancy
−$5.2K −$0.73/SF
EGI
$187.1K $26.27/SF
− OpEx
−$56.1K −$7.88/SF
NOI
$131.0K $18.39/SF
Area
Martin County, FL
Vacancy
2.70%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,619,800
Cap Rate 7%
$1,871,286
Cap Rate 9%
$1,455,444
Alternative Uses
Best Use
Retail
$1.87M
$1.64M – $2.18M
NOI $130,990 @ 7.0% cap · market cap 3.70%
Second Best
Specialty Retail
$1.36M
$1.19M – $1.59M
NOI $95,391 @ 7.0% cap · market cap 2.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,448
Businesses Nearby
403k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Home Improvements & Furnishings 19%
Shops & Services 16%
Apparel 15%
Chick-fil-A
Dining
57,176 visits/mo
0.2 miles
The Home Depot
Home Improvements & Furnishings
54,445 visits/mo
0.3 miles
T.J. Maxx
Apparel
47,789 visits/mo
0.4 miles
Starbucks
Dining
20,565 visits/mo
0.5 miles
Ollie's Bargain Outlet
Shops & Services
20,414 visits/mo
0.2 miles
Demographics for 34994, FL
17,843
Population
10,086
Households
1.8
Avg Household Size
51
Median Age
36%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
2,663
Density / Sq Mi
$62,895
Median Household Income
$33,547
Median Earnings
$1,558
Median Rent
$248,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - NNN leased restaurant property with corporate guarantee and rent increases.
Where is this conventional restaurant located?
The property is located at 2700 SE Federal Hwy Stuart, FL.
What is the asking price?
The asking price for this property is $3,539,455.
What are key features of this property?
This property features: Absolute NNN lease offering zero landlord responsibilities.; Corporate guarantee from Bloomin’ Brands, Inc (NASDAQ: BLMN).; Located in Stuart, Florida, experiencing significant population growth (18% since 2020).
