225 Ft Evans NE Rd Leesburg, VA 20176-4447

Property Details for 225 Ft Evans NE Rd

Year built

1999

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.09 lot acres

Property size

4,988 SF

Zone code

LB:B3

Property type

Turn key restaurants

APN

188-10-1583-000

APU

188101583000

Description

This exceptional investment opportunity presents a 4,988 square foot Outback Steakhouse located at 225 Fort Evans Rd, Leesburg, VA 20176, within the affluent Loudoun County, a consistently top-ranked wealthiest county in the U.S. The property sits on a 1.1-acre lot and is a pad site to the Leesburg Premium Outlets, attracting over 3.1 million visitors annually. This single-tenant, ground lease property boasts a 100% occupancy rate with a strong corporate guarantee from Bloomin' Brands, Inc. The current lease, a Net Lease (NNN) agreement, commenced August 23, 2021, and has a remaining term of approximately 12 years, expiring August 31, 2036. The lease includes three, 5-year renewal options and features a 10% rent increase every five years, ensuring consistent income growth. The property's Net Operating Income (NOI) is $203,500, resulting in a 5.00% cap rate. Built in 2021, this one-story building is situated in a high barrier-to-entry market, with the Route 15 corridor in Leesburg experiencing high demand and limited pad site availability. The superior demographics, with a population exceeding 100,000 and an average household income over $172,000 within a 5-mile radius, further solidify this investment's potential. The asking price for this exceptional property is $4,070,000.

Location Insight

City

Leesburg

County

Loudoun

State

Virginia

Longitude

-77.5372

Latitude

39.1095

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments