LongHorn Steakhouse 3201 Macon Rd 5,710 SF Retail Building Columbus, GA 31906 $1,800,000 ($315.24/SF) 6.48% Cap Rate
INVESTMENT HIGHLIGHTS
- 5+ Years Remaining | Scheduled Rental Increases | Corporate Signed Lease | Well-Known & Established Brand
- Direct Residential Consumer Base | Affluent Community |Demographics in 5-Mile Trade Area
- Located Along Macon Road | Centralized Location | Excellent Visibility & Access
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Outparcel to 371K+ SF Lifestyle Center | Dense Retail Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest in an absolute NNN, freestanding, corporate signed, LongHorn Steakhouse investment opportunity located in Columbus, GA. The tenant, Rare Hospitality International, Inc. (dba LongHorn Steakhouse) has over 5.5 years of firm term remaining with an additional 4 (5-year) option periods to extend. The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1981, LongHorn Steakhouse is among the leading steakhouse chains with over 590 operating restaurants across 43 states.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,710 SF
Building Class
B
Year Built/Renovated
1980/2022
Price
$1,800,000
Price Per SF
$315.24
Cap Rate
6.48%
NOI
$116,719
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.06 AC
Zoning
NC - Neighborhood Commercial
Parking
65 Spaces (11.38 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Freeway Visibility
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,884,423 | |
| Land Assessment | $318,088 | Total Assessment | $2,202,511 |
