This page tracks Outback Steakhouse net lease properties observed for sale in the United States, refreshed automatically from listing broker materials, checks the tenant against the investment grade threshold, and walks through how to evaluate one before you make an offer. If you want the corporate credit story, the Outback Steakhouse credit rating and cap rate profile covers it. This page is about the inventory: what is on the market, what it is asking, how the pricing breaks down by term, state and lease type, and how a buyer, especially a 1031 exchange buyer, should work through it.
Outback Steakhouse is not investment grade. Outback Steakhouse is not rated on its own; its parent company, Bloomin' Brands, Inc., carries long-term ratings of B+ (Negative outlook) from S&P Global Ratings and B1 (Stable outlook) from Moody’s, which is below the BBB-/Baa3 investment grade threshold. Whether that credit stands behind a specific lease depends on the guarantor named in the lease. Ratings checked September 27, 2026. Ratings change; confirm before relying on any figure here. See the Outback Steakhouse credit rating and NNN cap rate profile and the investment grade credit tenant ratings table.
12 Outback Steakhouse NNN properties observed for sale across 8 states as of October 2, 2026. Median asking cap rate 5.66% (range 5.00% to 7.01%). Median asking price $3.61M. Average remaining lease term 8.1 years (among 8 listings that state a term). Median building 6,064 SF. Figures update automatically from listing broker materials.
Outback Steakhouse is not investment grade. Outback Steakhouse is not rated on its own; its parent company, Bloomin' Brands, Inc., carries long-term ratings of B+ (Negative outlook) from S&P Global Ratings and B1 (Stable outlook) from Moody’s, which is below the BBB-/Baa3 investment grade threshold. Whether that credit stands behind a specific lease depends on the guarantor named in the lease. Ratings checked September 27, 2026. See the investment grade credit tenant ratings table.
Outback Steakhouse NNN Properties For Sale: Latest Listings
Up to twelve of the most recently listed single-tenant Outback Steakhouse properties with published pricing. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.
| Location | Asking Price | Cap Rate | NOI | Term Left | Built | Lease | |
|---|---|---|---|---|---|---|---|
| Des Plaines, IL | $3,000,000 | 6.00% | $180,000 | n/a | 2024 | Not stated | Get full property data |
| Lutz, FL | $3,761,905 | 5.25% | $197,500 | n/a | 2025 | Not stated | Get full property data |
| Waco, TX | $2,148,725 | 6.75% | $145,039 | n/a | 1996 | Not stated | Get full property data |
| Tampa, FL | $7,045,950 | 6.00% | $422,757 | n/a | n/a | Not stated | Get full property data |
| Redding, CA | $2,577,255 | 5.50% | $141,749 | 7.2 yrs | 1998 | Absolute NNN | Get full property data |
| Wake Forest, NC | $3,810,000 | 5.25% | $200,000 | 14.9 yrs | 2026 | Absolute NNN | Get full property data |
| Conway, AR | $2,650,000 | 7.01% | $185,896 | 6.3 yrs | 2017 | Absolute NNN | Get full property data |
| Fredericksburg,, VA | $3,959,181 | 5.25% | $207,857 | 3.4 yrs | 1995 | Absolute NNN | Get full property data |
| Jacksonville, FL | $5,202,000 | 6.00% | $306,985 | 5.0 yrs | 1985 | Absolute NNN | Get full property data |
| Phenix City, AL | $3,455,000 | 5.50% | $190,000 | 12.0 yrs | 2025 | Absolute NNN | Get full property data |
| Kissimmee, FL | $3,400,000 | 5.00% | $170,000 | 11.0 yrs | 2025 | Not stated | Get full property data |
| St. Augustine, FL | $4,420,000 | 5.81% | $254,140 | 4.8 yrs | n/a | NNN | Get full property data |
Search all 12 Outback Steakhouse properties on the market
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the listing party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.
Get new Outback Steakhouse listings in your cap rate band
New Outback Steakhouse net lease listings matched to your criteria, emailed as they are observed on the market. One email per match, nothing else.
Own an Outback Steakhouse? Considering selling?
Investment Grade Income Property, LP advises owners nationally through Broker of Record co-listing partnerships in all 50 states. You choose the process: a quiet off-market placement with qualified 1031 buyers already searching this inventory, or a full on-market campaign. Either way it starts with a free valuation benchmark against the live Outback Steakhouse listings on this page.
Investment Grade Income Property, LP is a licensed commercial real estate brokerage. Your details are used to send the information you requested and are never shared with listing brokers without your permission.
What You Are Actually Buying
Outback locations are predominantly company-operated, so listings generally carry corporate credit. The parent operates several casual dining brands and has been managing a portfolio of underperforming locations, so store-level performance and the parent’s restructuring posture both matter here.
The median building in the current inventory is 6,064 square feet, a full-service format on a freestanding pad with a full parking field. Corporate-signed restaurant leases price tighter than franchisee leases because the obligor is the brand itself rather than an operator.
Across the current inventory, roughly 50% of listings with a reported build year were delivered in the last four years, and about 0% are marketed as NN, NN+ or simply Net, which usually means the landlord retains roof and structure and sometimes parking and HVAC. Read the lease rather than the brochure headline. If the rating framework behind investment grade tenancy is unfamiliar, the investment grade guide explains it.
Outback Steakhouse Cap Rate, Price and Term Distribution
These tables are generated from the live inventory and refresh every few hours. Use them to place any individual listing in context rather than judging an asking cap rate in isolation.
| Asking Cap Rate Band | Listings | Share | Avg Asking Price |
|---|---|---|---|
| 5.00% to 5.49% | 4 | 33% | $3.73M |
| 5.50% to 5.99% | 3 | 25% | $3.48M |
| 6.00% to 6.49% | 3 | 25% | $5.08M |
| 6.50% to 6.99% | 1 | 8% | $2.15M |
| 7.00% and above | 1 | 8% | $2.65M |
| Asking Price Band | Listings | Share | Avg Cap Rate |
|---|---|---|---|
| $1.5M to $2.5M | 1 | 8% | 6.75% |
| $2.5M to $3.5M | 5 | 42% | 5.80% |
| $3.5M to $5M | 4 | 33% | 5.39% |
| $5M and above | 2 | 17% | 6.00% |
| Remaining Lease Term | Listings | Avg Cap Rate |
|---|---|---|
| Under 5 years | 2 | 5.53% |
| 5 to 10 years | 3 | 6.17% |
| 10 to 15 years | 3 | 5.25% |
| Lease Type (as marketed) | Listings |
|---|---|
| Absolute NNN | 6 |
| Not stated | 5 |
| NNN | 1 |
How to read the pricing
The spread inside the Outback Steakhouse inventory runs from 5.00% to 7.01%, against a median of 5.66%. Three variables help explain much of that spread, although these tables describe asking prices and do not isolate any single effect. First, remaining term, shown in the term table above. Second, geography, shown in the state table below. Third, lease structure and real estate quality: longer terms, stronger guarantors, absolute NNN structures and strong access generally ask lower cap rates, while leases with landlord responsibilities (NN) and secondary access generally ask higher ones; ground leases can price on either side, depending on rent and land value. When a listing sits far outside the band its term and state would predict, there is usually a reason in the lease, and it is worth finding before you write the offer rather than after.
Where Outback Steakhouse NNN Properties Are For Sale
Current inventory spans 8 states. Differences between states in the table below can reflect local buyer demand, growth, taxes and the mix of lease terms in each state’s listings as much as anything about the tenant, and small state samples can shift quickly.
| State | Listings | Avg Cap Rate | Avg Asking Price |
|---|---|---|---|
| FL | 5 | 5.61% | $4.77M |
| AR | 1 | 7.01% | $2.65M |
| CA | 1 | 5.50% | $2.58M |
| IL | 1 | 6.00% | $3.00M |
| NC | 1 | 5.25% | $3.81M |
| TX | 1 | 6.75% | $2.15M |
| AL | 1 | 5.50% | $3.46M |
| VA | 1 | 5.25% | $3.96M |
Outback Steakhouse as a 1031 Exchange Replacement Property
The median asking price in the current Outback Steakhouse inventory is $3.61M, and about 50% of listings fall in the middle of the market between 1.5 and 3.5 million dollars. Whether that fits an exchange depends on the equity coming out of the relinquished property and on the debt you need to replace.
- Identify from the live list, not a stale one. Listings move. Identify two or three specific properties under the three-property rule and keep a backup that is realistically still available.
- Debt replacement is the trap. If the relinquished property carried a mortgage, you must replace that debt or add cash to fully defer gain. Where lender pricing sits above the asking cap rate, financed acquisitions run negative leverage.
- Term should match your hold. If you plan to hold through the next exchange or pass the asset to heirs, prioritize term and options over 25 basis points of cap rate.
- Certainty of closing matters more than price. A clean estoppel, a current lease and no pending relocation are worth paying for on a 45-day clock.
For identification mechanics, timelines and the NNN, DST and UPREIT alternatives, see the 1031 exchange into investment grade property guide.
Outback Steakhouse NNN Due Diligence Checklist
These are the items that change the value of an Outback Steakhouse listing and are rarely resolved by the offering memorandum.
- Lease signatory. Confirm the obligor is the corporate entity and not an operating subsidiary with thin assets or a franchisee.
- Term, options and escalations. Verify the exact remaining term, the escalation schedule and whether options renew at fixed or market rent.
- Ground lease versus fee simple. Restaurant pads are frequently ground leased, which changes depreciation, financing and residual value.
- Reciprocal easement restrictions. On outparcels, review the REA for use restrictions, parking ratios, and any prohibition on drive-thru or signage changes.
How Investment Grade Works With Outback Steakhouse Buyers
Investment Grade Income Property, LP is a licensed commercial real estate brokerage providing national advisory on acquisitions and dispositions of net lease property, with Broker of Record co-listing partnerships in all 50 states. On an Outback Steakhouse acquisition we screen the live inventory against your criteria, pull the lease abstract behind any listing you want to pursue, benchmark the asking cap rate against the distribution above, and negotiate on your side of the table through closing. On most transactions there is no separate fee to the buyer because compensation is paid from the transaction by the listing side. Where that is not the case we disclose it in writing before you engage.
Owners of existing Outback Steakhouse properties can use this page as a valuation benchmark. If you are weighing a sale, an off-market disposition to a qualified 1031 buyer often closes faster and with less retrading than a broad marketing process.
Frequently Asked Questions
How many Outback Steakhouse NNN properties are for sale right now?
As of October 2, 2026, 12 single-tenant Outback Steakhouse net lease properties are observed for sale across 8 states. The count updates automatically as listings are added and removed.
Is Outback Steakhouse investment grade?
Outback Steakhouse is not rated on its own; its parent company, Bloomin' Brands, Inc., carries long-term ratings of B+ (Negative outlook) from S&P Global Ratings and B1 (Stable outlook) from Moody’s, which is below the BBB-/Baa3 investment grade threshold. Whether that credit stands behind a specific lease depends on the guarantor named in the lease. Ratings checked September 27, 2026.
What cap rate do Outback Steakhouse NNN properties sell at?
The current median asking cap rate is 5.66%, with the inventory ranging from 5.00% to 7.01%. Longer term, stronger markets and absolute NNN structures price at the tight end.
How much does an Outback Steakhouse NNN property cost?
The median asking price in the current inventory is $3.61M, with listings from $2.15M to $7.05M. About 50% fall between 1.5 and 3.5 million dollars.
Who signs the lease on an Outback Steakhouse property?
Outback locations are predominantly company-operated, so listings generally carry corporate credit. The parent operates several casual dining brands and has been managing a portfolio of underperforming locations, so store-level performance and the parent’s restructuring posture both matter here.
Working an Outback Steakhouse acquisition or a 1031 identification deadline? Register on any listing above for full property data and a due diligence review, or email steve@investmentgrade.pro with your price range, target states and closing timeline and we will screen the live inventory for you.
