Texas Roadhouse | New 15yr Corp Abs Grd Lse | 206 Cherry Tree Ln
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Texas Roadhouse | New 15yr Corp Abs Grd Lse 206 Cherry Tree Ln
7,982 SF Retail Building Marietta, OH 45750 $2,991,000 ($375/SF) 5.35% Cap Rate
Investment Highlights
- Brand New 15-Year Lease | 2024 Construction | Corporate Guaranty Options To Extend | Scheduled Increases
- Across From Walmart Anchored Center | State Hwy 7 (20,200 VPD)
- Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area | Direct Consumer Base
Executive Summary
• The tenant, Texas Roadhouse, Inc., recently signed a new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation
• The lease is corporate guaranteed (NASDAQ: TXRH)
• With over a 100% increase in stock price throughout the last 5 years, Texas Roadhouse continues to expand rapidly, as the chain was ranked one of the most popular restaurant chains during the COVID-19 pandemic
• The lease features 10% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation
• The lease is corporate guaranteed (NASDAQ: TXRH)
• With over a 100% increase in stock price throughout the last 5 years, Texas Roadhouse continues to expand rapidly, as the chain was ranked one of the most popular restaurant chains during the COVID-19 pandemic
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Building Size
7,982 SF
Year Built
2024
Price
$2,991,000
Price Per SF
$375
Cap Rate
5.35%
NOI
$160,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Land Acres
3.79 AC
Zoning
C-3 - General Retail
Parking
196 Spaces (24.56 Spaces per 1,000 SF Leased)
Amenities
- Freeway Visibility
- Restaurant
- Signage
-
Morgan Zant -
Sarah Shanks -
Power Broker Matthew Mousavi -
Power Broker Patrick Luther -
SRS National Net Lease
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Texas Roadhouse | New 15yr Corp Abs Grd Lse | 206 Cherry Tree Ln
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