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Views: 74 DOM: 74 Updated: 09.13.24 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 13.4
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 escalations 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 steakhouse that began in 1993 in Clarksville, IN. The chain specializes in Texas and Southwestern-style cuisines and is known by its “Legendary Food, Legendary...


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Listing Broker

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