4505 Sherwood Way San Angelo, TX 76901-5600

Property Details for 4505 Sherwood Way

Year built

2000

Lot size

1.20 lot acres

Property size

6,168 SF

Property type

Turn key restaurants

APN

23-41410-0001-005-00

APU

2341410000100500

Description

This exceptional investment opportunity presents a 6,184-square-foot Outback Steakhouse located in San Angelo, Texas. The property sits on a 1.2-acre lot with 117 parking spaces and enjoys a prime location on Sherwood Way, boasting excellent visibility and access with high daily traffic volume. The absolute NNN lease with Outback Steakhouse (Bloomin' Brands, Inc. corporate guaranty) features approximately 11.9 years remaining on the primary term, with three 5-year renewal options. The lease includes attractive 1.8% annual rent increases, ensuring consistent income growth. The property's strong financial performance is reflected in a 6.50% cap rate and a substantial net operating income (NOI) of $282,965. Built in 2000, this restaurant benefits from its strategic location within a thriving retail corridor, near major roadways, and a significant residential population. The surrounding area includes a mix of retail, office, industrial, and multifamily properties, creating a robust and diverse customer base. This is a rare opportunity to acquire a well-established, high-performing restaurant property with a long-term lease and significant upside potential. The property is situated near other popular businesses such as Cinemark Tinseltown USA and Crunch Fitness, further enhancing its appeal and drawing in a steady stream of customers. The property's location within a mile of over 3,000 households provides a built-in customer base.