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2504 W International Speedway Blvd
Daytona Beach, FL 32114

LongHorn: Daytona Beach, FL · Retail Property For Sale

PROPERTY FACTS

Property Type
Retail
Property Subtype
Restaurant
Building Size
5,970 SF
Building Class
B
Year Built
1999
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.64 AC
Zoning
2100
Frontage
100 FT on International Speedway Bl

AMENITIES

  • Bus Line
  • Dedicated Turn Lane
  • Pylon Sign
  • Signage
  • Signalized Intersection

ABOUT 2504 W INTERNATIONAL SPEEDWAY BLVD , DAYTONA BEACH, FL 32114

INVESTMENT–GRADE RESTAURANT CONCEPT: LongHorn Steakhouse is a fast–casual restaurant chain owned and operated by Darden Restaurants Inc. (NYSE: DRI; Moody’s: Baa2; S&P: BBB). The restaurant concept is known for their legendary steaks which are grilled to perfection and include the house favorite center-cut Flo’s Filet. At the end of fiscal year 2018, Darden Restaurants, Inc. reported Revenue in excess of $8.5 billion, EBITDA of $1.1 billion, and Net Income of $717 million. Furthermore, the Company has a Net Worth in excess of $2.1 billion and is levered less than 1.0x. LONG–TERM NNN GROUND LEASE WITH RENT INCREASES: LongHorn Steakhouse recently executed the second 5–year extension on their NNN ground lease (Original Term: 15 Years) which now has ± 5.2 years of lease term remaining. LongHorn Steakhouse’s lease has two 5–year options remaining with 10% rent increases in each option. STRONG PERFORMER WITH EXTREMELY LOW RENT TO SALES RATIO: LongHorn Steakhouse has demonstrated its strong historical performance at this location by recording above average sales figures, which results in the Property having an extremely low rent–to–sales ratio. EXCELLENT ACCESS & VISIBILITY: The Property has excellent access and visibility along West International Speedway Boulevard (Traffic Count: 46,500) – the corridor’s main thoroughfare providing access east around to Daytona Beach – just down from the entrance / exit ramps to Interstate 95 (Traffic Count: 66,500 VPD).

PROPERTY TAXES

  • Listing ID: 17542286

  • Date on Market: 10/24/2019

  • Last Updated:

  • Address: 2504 W International Speedway Blvd, Daytona Beach, FL 32114