6744 Loop 820 Fort Worth, TX 76135-4279

Property Details for 6744 Loop 820

Year built

2023

Lot size

2.02 lot acres

Property size

4,743 SF

Property type

Turn key restaurants

APN

23557M-2-1R3A

APU

23557M21R3A

Description

This exceptional investment opportunity presents a brand-new, 4,694 square foot Outback Steakhouse located in Fort Worth, Texas. The property sits on a 2.02-acre lot with ample parking (105 spaces) and boasts a 15-year absolute NNN ground lease commencing May 21, 2024, and expiring May 31, 2039, with four 5-year renewal options. The lease includes 10% rent bumps every five years, providing a strong hedge against inflation. The tenant, Outback Steakhouse, is backed by a corporate guarantee from Bloomin' Brands, Inc., a financially stable company with a significant presence in the restaurant industry. The property features a modern design and is situated in a high-traffic area with excellent demographics, including over 171,000 people within a 5-mile radius and an average household income exceeding $107,000 annually. The location benefits from proximity to major roadways (NW Loop 820 and Quebec Street), a Target-anchored shopping center, and Lockheed Martin's Aeronautics Headquarters. The property's strong tenant, long lease term, built-in rent increases, and prime location make it an attractive investment with a current NOI of $194,000 and a 5.00% cap rate. The asking price is $3,880,000, representing a price per square foot of $826.59. This fee-simple ownership opportunity is ideal for investors seeking a stable, high-performing asset in a desirable Texas market. The property is zoned commercial and was built in 2024. The APN is 42230649.