Texas Roadhouse (GL)

245 Rasberry Road, Crestview, FL 32536

$3,429,000

Cap Rate 5.25%

Views: 183 DOM: 282 Updated: 09.18.24 Posted: 03.14.24 Status: Active

Summary

Price $3,429,000	Built/Renov 2024	Tenant Texas Roadhouse (GL)
Cap Rate 5.25%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 7,831	Lease Start 05-01-2024	#Units 635
Price/SF $437.88	Expiration 04-30-2039	Tenant Type Casual Dining
NOI $180,000	R. Term 14.4	Ownership Ground Lease
Rent/SF $22.99	Increases 10.0%/5/yrs	Pop 5Mi 44,769
Lot/AC 2.37	Options 4/5yrs/10%	AHHI 5Mi $86,643

Lease Highlights

Brand new 2024 construction
Texas Roadhouse will be executing a brand new 15-year ground lease with 4 (5-year) options to extend at the close of escrow
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Texas Roadhouse is strategically located on Rasberry Road, with clear visibility and access to S. Ferdon Boulevard (51,500 VPD) and Interstate 10 (18,600 VPD). Interstate 10 is the fourth-longest interstate in the United States, spanning over 2,400 miles, making this an ideal, centralized location. Additionally, the property is situated within a dense retail corridor with well-known national...

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Key Features

New construction
High traffic 50M+ VPD
Near major nationals
Freeway visibility
Affluent suburb location
Income tax free state
Brand new lease
Long 15+ yr lease
Corporate Guarantee
Publicly traded company

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Links

Texas Roadhouse Wikipedia Texas Roadhouse Wikipedia Crestview, Florida Zip Code 32539 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Texas Roadhouse
Guarantor:Corp Traded
Company:Texas Roadhouse, Inc.
# Units:635
Stock: NASDAQ: TXRH

About Tenant

Texas Roadhouse is an American s teakhouse that began in 1993 in Clarksville, IN. The chain specializes in Texas and Southwestern-style cuisines and is known by its “Legendary Food,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,136	30,047	46,297
2023 Total Population :	3,992	28,909	44,687
2023 Employed Civilian Pop :	2,150	13,623	20,218
2023 Total Businesses :	352	1,069	1,376
2023 Average Household Income :	$ 99,289	$ 86,480	$ 86,641
2023 Total Consumer Spending :	$ 129 M	$ 792 M	$ 1197 M
2023 Median Age :	35	35	36
2023 Total Households :	1,508	10,592	15,950
2023 Pop Age 25+: Bachelor's Degree :	550	3,629	5,014
2023 Average Home Value :	$ 343,110	$ 306,809	$ 322,061

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	I- 10	2022	5,600	0.06 mi
	S Ferdon Blvd	2022	6,400	0.12 mi
South Ferdon Boulevard	Rasberry Rd	2022	47,500	0.14 mi
S Ferdon Blvd	Cracker Barrel Dr	2005	46,500	0.22 mi
	S Ferdon Blvd	2022	2,700	0.25 mi
	S Ferdon Blvd	2022	2,800	0.27 mi
South Ferdon Boulevard	S Ferdon Blvd	2022	51,500	0.30 mi
South Ferdon Boulevard	S Ferdon Blvd	2022	45,000	0.39 mi
I-10	S Ferdon Blvd	2005	18,600	0.59 mi
S Ferdon Blvd	Redstone Ave W	2018	43,500	0.64 mi

Listing Broker

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
50694 Views
165 Sold

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
46273 Views
137 Sold

Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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