Carrabba’s Italian Grill

Carrabba’s Italian Grill

Carrabba’s Italian Grill
1751 Tamiami Trail South
Venice, FL 34293

$2,571,429

Cap Rate 5.25%
Gross Leasable Area (GLA) 6,115 Sq.Ft.
Price Per Square Foot (GLA) $421
Year Built 2015
Lot Size 1.31 Acres
  • Over 8 Years Remaining on the Ground Lease
  • Corporate Backed Guarantee
  • 10 Percent Rent Increases Every 5 Years
  • Four Five-Year Option Periods
  • Population of Approximately 75,297 Within a Five Mile Radius
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Carrabba’s Italian Grill (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is pleased to exclusively offer for sale this 6,115-square foot freestanding Carrabba’s located in Venice, Florida. OSI Restaurant Partners, LLC DBA Carrabba’s has 8 years remaining on the base term of the lease with Four Five-Year Option Periods. There are 10 percent rent increases throughout the initial term and the option periods. This rate schedule provides a new investor with a blended average unleveraged return of 5.54 percent during the base term of the lease.

The property lies on busy Tamiami Trail South with easy access and a daily average traffic count of 45,600 cars. The property caters to the local residents and businesses with an average household income of $67,530. The property is an outparcel to a Lowe’s Home Improvement store in a major retail corridor. Other retailers in the area include Denny’s, AutoZone, ABC Fine Wine & Spirits, Checkers, Subway, McDonalds, PNC Bank, Dunkin’ Donuts, Advance Auto Parts and more.

Venice is a principal city of the Bradenton-Sarasota-Venice area. This area is home to various employment centers, beaches, coastline, and the Port of Bradenton. The area is noted for its large tourist and snowbird population. Venice was voted as a top ten happiest seaside towns by Coastal Living.

For More Information, Please Contact:

Jim Shiebler

Net Leased Properties Group | National Retail Group
239-789-4821
Jim.Shiebler@marcusmillichap.com