4142 Ridgemont Dr Abilene, TX 79606-2734

Property Details for 4142 Ridgemont Dr

Year built

1999

Lot size

1.54 lot acres

Property size

6,063 SF

Property type

Commercial real estate

APN

24125005005

APU

24125005005

Description

This exceptional investment opportunity presents a 6,172 square-foot Outback Steakhouse located at 4142 Ridgemont Dr, Abilene, TX 79606. The property sits on a 1.53-acre lot with 146 parking spaces and enjoys excellent visibility and access, situated less than four miles southwest of downtown Abilene. The property is an outparcel to a Lowe's-anchored shopping center, and directly across Ridgemont Drive from the Mall of Abilene (681,442 square feet), a major regional shopping destination. This absolute NNN lease boasts a remaining term of approximately 11.9 years with three 5-year renewal options, providing long-term stability and predictable cash flow. The lease includes annual rent increases of 1.8%, further enhancing the investment's return. The property's strong tenant, Outback Steakhouse, is backed by a corporate guaranty from Bloomin' Brands, Inc. The asking price is $3,506,900, representing a 6.25% cap rate and a price per square foot of $568.20. The property's Net Operating Income (NOI) is $219,179. Built in 1999, this location benefits from a robust demographic profile, with a population of 101,710 and an average household income of $77,633 within a 5-mile radius. Abilene's strong college town presence, with five higher education institutions, contributes to a vibrant and growing local economy. This is a rare opportunity to acquire a high-performing, net-leased property in a desirable location with significant long-term potential.

Location Insight

City

Abilene

County

Taylor

State

Texas

Longitude

-99.7653

Latitude

32.4009

CBSA code

10180

CBSA name

ABILENE, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments