Skip to main content

Restaurant

Outback Steakhouse | NorCal | Low Rent | Absolute Net | 27+ Year Historical Occupancy

910 Dana Dr, Redding (NorCal), CA 96003

Listing Price: $2,835,000

Cap Rate
5.00%
Tenant Name
Outback Steakhouse
Years Remaining On Lease
8.2
Gross SF
6,163
Guarantor
Franchisee Guarantee
Rentable SF
6,163
Price/Gross SF
$460.00
Lease Type
NNN Ground Lease
Rent Per Square Feet
$23.00

Investment Overview

Redding, California, located in the heart of the scenic Shasta Cascade region, is the economic and cultural anchor of far Northern California. With a population nearing 100,000 and serving a regional trade area of over 250,000 people, Redding plays a central role in retail, healthcare, and tourism in the North State. Its strategic location along Interstate 5—the major north-south artery connecting California to Oregon and Washington—makes it an ideal hub for commerce and distribution.

The city has seen consistent growth in both population and economic development, fueled by its affordability compared to other California metros and its business-friendly climate. Key industries in Redding include healthcare, education, government, light manufacturing, and an expanding retail sector. Major employers include Mercy Medical Center, Shasta College, and a strong mix of public and private institutions. The presence of regional medical centers and educational institutions contributes to a steady daytime population and local spending.

Retail development in Redding continues to thrive, with recent redevelopments and expansions drawing national brands to the area. The conversion of the former Costco building into a mixed-use retail center featuring tenants such as Raising Cane’s and At Home highlights the city’s ongoing commercial reinvestment. Redding’s retail corridors—particularly those along Hilltop Drive, Dana Drive, and Cypress Avenue—remain among the most active in the region, serving both local residents and a significant volume of interstate traffic.

Redding also boasts a strong tourism and outdoor recreation economy. Surrounded by mountains, lakes, and national parks, the city attracts visitors year-round for hiking, fishing, boating, and camping. Its high quality of life, combined with a stable housing market and lower cost of living relative to other parts of California, make it attractive to both residents and investors.

Investment Highlights

  • Absolute Net Ground Lease Featuring a 10% Rental Increase in 2028 and at the Option. 27+ Year Historical Occupancy with Multiple Lease Extensions Demonstrating a Strong Commitment to the Location.
  • Ranked in the Top 35% in the Chain Nationwide per Placer.ai based on Foot Traffic. Positioned Along Area's Major Retail & Traffic Corridor: Features Easy Access and Excellent Visibility.
  • Immediate Access to/from Interstate-5 (70k+ VPD). Densely Populated and Affluent Area: Features an Average Household Income of more than $84k and over 98k People Residing within a 5-Mile Radius.
  • The Lease is signed by Cerca Trova Steakhouse Operating Over 100+ Locations Across Arizona, California, Colorado, Nevada and New Mexico. Outback Steakhouse as a Whole is among the Leading Casual Dining Restaurants with over 1,000 locations in 23 countries.
  • Within Mt. Shasta Mall - a Popular Shopping Destination featuring more than 80 Stores. It is One of only Four Malls serving California North of Sacramento - Comprises the Largest gathering of Retailers within a 400 Mile Stretch of Interstate 5.
  • Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics - More than 400k Sq.Ft. of New Retail Development planned within the Immediate Area.
  • Surrounded by Numerous National Retailers including Walmart Supercenter, Target, The Home Depot, Hobby Lobby, BevMo!, PetSmart, T.J. Maxx, Michaels, World Market, Best Buy, Trader Joe's, WinCo Foods and many more.
  • The City of Redding is the Center of Trade and Commerce for the Upstate Region of Northern California. It is the Largest City North of Sacramento and is Strategically Located on I-5, Equidistant Between Seattle and Los Angeles. Minutes from a Proposed New Casino, Hotel and Convention Center - Plans include a 69k Sq.Ft. Casino w/ 1,200 Slot Machines and 36 Game Tables, a 250-Room Hotel, an 1,800-Seat Event Center and a 1,500-Seat Outdoor Amphitheater.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego Downtown

  • Jon Talia

    Managing Director Investments

    (858) 373-3186

    Email Jon

    License(s): CA: 02031343

    San Diego Downtown

Restaurant

Outback Steakhouse | NorCal | Low Rent | Absolute Net | 27+ Year Historical Occupancy

Listing Price: $2,835,000

Cap Rate
5.00%
Tenant Name
Outback Steakhouse
Years Remaining On Lease
8.2
Gross SF
6,163
Guarantor
Franchisee Guarantee
Rentable SF
6,163
Price/Gross SF
$460.00
Lease Type
NNN Ground Lease
Rent Per Square Feet
$23.00

Investment Highlights

  • Absolute Net Ground Lease Featuring a 10% Rental Increase in 2028 and at the Option. 27+ Year Historical Occupancy with Multiple Lease Extensions Demonstrating a Strong Commitment to the Location.
  • Ranked in the Top 35% in the Chain Nationwide per Placer.ai based on Foot Traffic. Positioned Along Area's Major Retail & Traffic Corridor: Features Easy Access and Excellent Visibility.
  • Immediate Access to/from Interstate-5 (70k+ VPD). Densely Populated and Affluent Area: Features an Average Household Income of more than $84k and over 98k People Residing within a 5-Mile Radius.
  • The Lease is signed by Cerca Trova Steakhouse Operating Over 100+ Locations Across Arizona, California, Colorado, Nevada and New Mexico. Outback Steakhouse as a Whole is among the Leading Casual Dining Restaurants with over 1,000 locations in 23 countries.
  • Within Mt. Shasta Mall - a Popular Shopping Destination featuring more than 80 Stores. It is One of only Four Malls serving California North of Sacramento - Comprises the Largest gathering of Retailers within a 400 Mile Stretch of Interstate 5.
  • Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics - More than 400k Sq.Ft. of New Retail Development planned within the Immediate Area.
  • Surrounded by Numerous National Retailers including Walmart Supercenter, Target, The Home Depot, Hobby Lobby, BevMo!, PetSmart, T.J. Maxx, Michaels, World Market, Best Buy, Trader Joe's, WinCo Foods and many more.
  • The City of Redding is the Center of Trade and Commerce for the Upstate Region of Northern California. It is the Largest City North of Sacramento and is Strategically Located on I-5, Equidistant Between Seattle and Los Angeles. Minutes from a Proposed New Casino, Hotel and Convention Center - Plans include a 69k Sq.Ft. Casino w/ 1,200 Slot Machines and 36 Game Tables, a 250-Room Hotel, an 1,800-Seat Event Center and a 1,500-Seat Outdoor Amphitheater.

Investment Overview

Redding, California, located in the heart of the scenic Shasta Cascade region, is the economic and cultural anchor of far Northern California. With a population nearing 100,000 and serving a regional trade area of over 250,000 people, Redding plays a central role in retail, healthcare, and tourism in the North State. Its strategic location along Interstate 5—the major north-south artery connecting California to Oregon and Washington—makes it an ideal hub for commerce and distribution. The city has seen consistent growth in both population and economic development, fueled by its affordability compared to other California metros and its business-friendly climate. Key industries in Redding include healthcare, education, government, light manufacturing, and an expanding retail sector. Major employers include Mercy Medical Center, Shasta College, and a strong mix of public and private institutions. The presence of regional medical centers and educational institutions contributes to a steady daytime population and local spending. Retail development in Redding continues to thrive, with recent redevelopments and expansions drawing national brands to the area. The conversion of the former Costco building into a mixed-use retail center featuring tenants such as Raising Cane’s and At Home highlights the city’s ongoing commercial reinvestment. Redding’s retail corridors—particularly those along Hilltop Drive, Dana Drive, and Cypress Avenue—remain among the most active in the region, serving both local residents and a significant volume of interstate traffic. Redding also boasts a strong tourism and outdoor recreation economy. Surrounded by mountains, lakes, and national parks, the city attracts visitors year-round for hiking, fishing, boating, and camping. Its high quality of life, combined with a stable housing market and lower cost of living relative to other parts of California, make it attractive to both residents and investors.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego Downtown

  • Jon Talia

    Managing Director Investments

    (858) 373-3186

    Email Jon

    License(s): CA: 02031343

    San Diego Downtown

MM Texture Background
MM Textured Background Lower