Sell Your Outback Steakhouse Property

Considering selling your Outback Steakhouse property? NNN Realty advises owners on net lease investment sales nationwide. This page explains how buyers evaluate Outback Steakhouse leases during Bloomin’ Brands’ turnaround, what affects value, and what to expect through closing.

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The Outback Steakhouse Market at a Glance

Short Answer

An Outback Steakhouse property’s value depends on the rent, the years left, and who stands behind the lease, since most U.S. restaurants are company-owned through Bloomin’ Brands subsidiaries and the rest are franchised. With the company closing some restaurants and letting some leases expire, buyers look closely at store sales and the next renewal date. Many leases are NNN, and a large, well-located lot supports value if Outback leaves.

Typical cap rate
5% to 6.25%
Typical sale price
$2.5M to $3M
Typical term left at sale
5 to 10 years
Typical lease type
NNN

Approximate ranges from NNN Realty’s tracking of Outback Steakhouse listings and reported sales, with data as of October 6, 2026. They are a starting point, not an appraisal or a quote of current pricing: your property’s value depends on its lease, location and condition.

How to Sell Your Outback Steakhouse Property

Selling an Outback Steakhouse property calls for a clear view of the tenant entity, the store’s performance and the value of the site. We manage valuation, marketing, negotiation and closing for owners.

  1. Property Review & Valuation

    We review the lease to confirm the tenant entity (for company restaurants, usually a Bloomin’ Brands subsidiary) and any guarantor, along with the lease form, remaining term, rent increases, renewal options and landlord duties. Where available, we include store sales, and we assess the lot size, access, zoning and redevelopment potential, then compare the property with recent Outback Steakhouse and casual dining sales to recommend a price.

  2. Market Positioning & Buyer Targeting

    Outback Steakhouse properties attract private investors and 1031 exchange buyers seeking restaurant income on well-located land, as well as buyers and developers who value the lot itself. Our offering memorandum explains the lease, tenant structure and site with professional and aerial photography, and we contact buyers whose criteria fit.

  3. Offers, Buyer Qualification & Negotiations

    We evaluate offers on price, financing or proof of funds, closing history, exchange timing and contingencies, including any requests for store sales. We negotiate a non-binding Letter of Intent (LOI) on the key terms and then a Purchase and Sale Agreement (PSA).

  4. Due Diligence & Closing

    After the PSA is signed, the buyer generally has about 30–45 days of due diligence to review the lease, title, survey, environmental reports, zoning and building condition. The buyer can usually cancel in this period and recover its earnest money.

    We coordinate documents, the site visit and communication with attorneys, the title company and lenders, and we request a tenant estoppel confirming the lease terms and rent status. Depending on the PSA, the deposit may become nonrefundable after due diligence, subject to contract exceptions, and closing commonly follows within 15–30 days. Timelines vary.

What Is My Outback Steakhouse Property Worth?

An Outback Steakhouse property is valued on its net operating income (NOI) and the capitalization rate (cap rate) buyers will accept. Not every Outback Steakhouse trades at the same cap rate. The years remaining, store sales compared with rent, the tenant entity and the land’s value can each move the price.

How Cap Rates Affect Your Property’s Value

A cap rate represents the relationship between a property’s annual net operating income and its purchase price. Generally, a lower cap rate results in a higher property value, while a higher cap rate results in a lower value.

Example: $150,000 annual NOI at 5.5% cap rate = approximately $2,727,273 estimated property value.

Property Value = Annual NOI ÷ Cap Rate

Cap rate calculator

5.50%

Estimated property value$2,727,273

Illustrative calculation only. Actual sale prices depend on property characteristics and market conditions.

Factors That Influence Outback Steakhouse Property Values

  • Remaining Lease Term & Renewal Risk

    More years remaining generally means a lower cap rate. Because Bloomin’ Brands has chosen not to renew some leases, buyers price the next renewal date carefully, so marketing well before expiration often helps.

  • Store Sales & Rent-to-Sales

    A restaurant with healthy sales for its rent is less likely to be closed or left to expire. Buyers often ask for sales information to judge where a location stands.

  • Tenant Entity & Guarantee

    Company restaurants are leased through Bloomin’ Brands subsidiaries, while franchised restaurants rely on the franchise operator. Knowing exactly which entity is responsible helps buyers price the lease with confidence.

  • Land & Redevelopment Value

    Outback Steakhouse lots are often large and well located, and their value on their own can set a floor under pricing. This matters most when little term remains.

  • Lease Structure & Rent Increases

    Leases on the building and leases on the land carry different landlord exposure, and any landlord duties reduce net income. Scheduled increases, where present, add to value.

Outback Steakhouse as a Tenant

Outback Steakhouse is the largest brand of Bloomin’ Brands, a publicly traded restaurant company whose primary operating entity is OSI Restaurant Partners, LLC. Most U.S. Outback Steakhouse restaurants are company-owned, so their leases are typically signed by a Bloomin’ Brands subsidiary, while franchised restaurants are leased by independent operators. The tenant entity and any guarantee should be confirmed from your lease.

As of June 28, 2026, there were 659 Outback Steakhouse restaurants in the U.S., 544 company-owned and 115 franchised. In late 2025, as part of its turnaround plan, Bloomin’ Brands decided to close 21 U.S. restaurants across its brands and not renew the leases of 22 more, most expiring over the following four years. In the second quarter of 2026, it disclosed that Out West Restaurant Group, a franchisee operating 71 Outback Steakhouse restaurants in the western U.S., had received a default notice from its senior lender.

Parent company
Bloomin’ Brands, Inc. (Nasdaq: BLMN)
Restaurants
659 in the U.S. as of June 28, 2026 (544 company-owned, 115 franchised)
Credit rating
B1 corporate family rating from Moody’s for Bloomin’ Brands (downgraded from Ba3, July 30, 2026)
Common lease terms
Often NNN on the building or the land, generally with renewal options. Confirm the tenant entity, guarantor and landlord duties in your lease.
Typical building
About 6,000 to 6,500 square feet on 1.5 to 2 acres

Company facts checked October 20, 2026. Sources:

What Is Your Outback Steakhouse Property Worth?

Considering selling your Outback Steakhouse property? NNN Realty can estimate its market value by reviewing the lease and tenant entity, store performance where available, the land’s value, recent comparable sales, and current buyer demand.

Whether you want to sell before your next renewal date or are still weighing options, we can provide a clear, informed assessment.

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NNN Realty is not affiliated with Bloomin' Brands, Inc.. Market ranges are approximate, based on listings and sales tracked through October 6, 2026, and the calculator is illustrative. Nothing here is tax, legal or investment advice.