3812 Corning PlCharlotte, NC 28216

This exceptional investment opportunity presents a fee-simple ownership of a 4,694 square foot Outback Steakhouse in Charlotte, NC. Located at 3812 Corning Pl, this Class A property boasts a 15-year absolute NNN lease (14 years remaining) commencing December 1, 2023, and expiring November 30, 2038. The lease includes four five-year renewal options and features a 10% rent increase every five years, providing built-in inflation protection. The property sits on a 1.232-acre lot with 75 parking spaces and enjoys a 5.35% cap rate, generating a net operating income (NOI) of $175,000. Built in 2023, this single-tenant property benefits from its location in a thriving retail area with strong national co-tenants, including Harris Teeter, Walmart, and Starbucks. The property's zoning is NS. The asking price is $3,271,000, translating to a price per square foot of $696.85. This investment offers a secure, long-term income stream with significant upside potential due to the strength of the tenant, the lease terms, and the prime location. The property's high occupancy rate of 100% since its opening on December 1, 2023, further underscores its stability and attractiveness as an investment. The property's APN is 03304692.