3645 S Virginia Street Reno, NV 89509

Building Details

Year Built

1997

Properties For Sale

at 3645 S Virginia Street Contact us

Listing office SRS Real Estate Partners Newport Beach p***@srsre.com Show Phone

Listing date Jun 1, 2026

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Investment Insights

Based on property information with market context.

SRS National Net Lease Group is pleased to offer the fee simple interest in an absolute NNN, freestanding Outback Steakhouse investment property. The offering includes land and building and is structured as a management-free, passive investment given the absolute NNN lease terms with zero landlord responsibilities.

The tenant, Outback Steakhouse, is in place under an initial lease that includes over 18 years remaining, along with three (5-year) options to extend, reflecting a long-term commitment to the site. The lease includes rare 2% annual rental increases throughout the initial term, designed to steadily grow NOI while helping hedge against inflation.

The lease is franchisee guaranteed by Cerca Trova, an experienced Outback Steakhouse franchise operator with over 100 Outback locations across the western United States, representing approximately 15% of all Outback locations in the U.S. For investors seeking a stabilized, income-oriented restaurant asset with minimal ongoing owner involvement, this fee simple absolute NNN structure offers a straightforward path to ownership.

Key Highlights

• Fee simple interest (land and building) in a freestanding Outback Steakhouse on an absolute NNN basis
• Tenant Outback Steakhouse has over 18 years remaining on the initial lease with 3 (5‑year) options to extend
• Lease includes rare 2% annual rental increases throughout the initial term

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FAQs

What type of property is this?

Conventional restaurant - Absolute NNN investment with a long remaining lease and fixed annual rental growth.

Where is this conventional restaurant located?

The property is located at 3645 S Virginia Street Reno, NV.

What is the asking price?

The asking price for this property is $3,968,000.

What are key features of this property?

This property features: Fee simple interest (land and building) in a freestanding Outback Steakhouse on an absolute NNN basis; Tenant Outback Steakhouse has over 18 years remaining on the initial lease with 3 (5‑year) options to extend; Lease includes rare 2% annual rental increases throughout the initial term