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Views: 192 DOM: 170 Updated: 10.31.24 Posted: 07.04.24 Status: Active

Summary

Price $2,476,190
Built/Renov 2023
Tenant Texas Roadhouse (GL)
Cap Rate 5.25%
Lease Type Double NN
Guarantor Corp Traded
Size/SF 8,160
Lease Start 03-01-2023
#Units 635
Price/SF $303.45
Expiration 02-01-2038
Tenant Type Casual Dining
NOI $130,000
R. Term 13.1
Ownership Ground Lease
Rent/SF $15.93
Increases 10.0%/5/yrs
Pop 5Mi 46,341
Lot/AC 1.62
Options 4/5yrs/10%
AHHI 5Mi $129,985

Lease Highlights

  • New 2023 construction
  • Texas Roadhouse has 13+ years remaining on the current ground lease term with 4 (5-year) options
  • The lease features 10% rental increases at the start of each option period
  • Corporate guaranteed lease

Location Description

Texas Roadhouse is strategically located on Silver Parkway, with access to 6,114 vehicles passing by daily. The property is directly opposite a Walmart Supercenter and is situated within Fenton’s prominent power center, featuring well-known national tenants such as TJ Maxx, Five Below, Michaels, Old Navy, and VG’s Grocery. The 5-mile trade area is supported by a population of 46,341 residents...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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
2029 Total Population : 3,056 27,548 43,950
2024 Total Population : 3,140 28,072 44,610
2024 Employed Civilian Pop : 1,521 14,155 22,061
2024 Total Businesses : 345 1,160 1,484
2024 Average Household Income : $ 89,351 $ 119,803 $ 123,446
2024 Total Consumer Spending : $ 111 M $ 1219 M $ 1937 M
2024 Median Age : 41 43 44
2024 Total Households : 1,415 11,692 18,070
2024 Pop Age 25+: Bachelor's Degree : 604 5,023 7,996
2024 Average Home Value : $ 307,119 $ 327,096 $ 343,774
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Jennings Rd 2022 13,357 0.18 mi
OWEN RD Jennings Rd 2020 12,417 0.18 mi
Owen Rd 2022 5,397 0.19 mi
TO OWEN ROAD-FENTON TWP. Owen Rd 2021 5,873 0.19 mi
Laurel Leah 2022 17,032 0.22 mi
BETWEEN SILVER AND JENNINGS (IN FENTON) Laurel Leah 2021 17,505 0.22 mi
Owen Rd 2022 4,379 0.24 mi
FROM OWEN ROAD Owen Rd 2021 4,326 0.24 mi
US Hwy 23 2022 6,192 0.25 mi
TO OWEN ROAD-FENTON TWP. 2021 4,977 0.29 mi

Listing Broker

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