Texas Roadhouse | 10+yrs Corp Abs NNN w/ Incr 4140 Miller Rd 7,379 SF Retail Building Flint, MI 48507 $1,713,000 ($232.15/SF) 6% Cap Rate

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INVESTMENT HIGHLIGHTS

10+ Years Remaining | Scheduled Rental Increases | Established Brand
Dense Retail Corridor | Genesee Valley Center (1,300,000 SF+) | Bishop International Airport
Strong Demographics in 5-Mile Trade Area

Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
Located Along Miller Rd (29,600 VPD) | Interstate 69 & Interstate 75 (135,800 VPD) | Excellent Visibility

EXECUTIVE SUMMARY

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Texas Roadhouse investment property located in Flint, Michigan. The tenant, Texas Roadhouse, recently exercised a 5-year option early making the current lease term over 10 years remaining with 3 (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 at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Texas Roadhouse operates over 740 restaurants system-wide in 49 states.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Restaurant

Building Size

7,379 SF

Building Class

Year Built

2015

Price

$1,713,000

Price Per SF

$232.15

Cap Rate

NOI

$102,850

Tenancy

Single

Building Height

1 Story

Building FAR

0.06

Lot Size

2.82 AC

Opportunity Zone

Yes

Zoning

General Commercial

Parking

165 Spaces (22.36 Spaces per 1,000 SF Leased)

Frontage

249’ on Miller Rd

AMENITIES

Freeway Visibility

Restaurant

Signage

Monument Signage

Accommodation and Food Services
99,999 SF
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It all began on February 17, 1993, when Kent Taylor opened the first Texas Roadhouse in Clarksville, Indiana. Kent's goal was to own not just a family restaurant and not just a steak restaurant, but a place where everyone, of all ages, could come and have a great meal and great fun for a great price. They like to brag about their Hand-Cut Steaks, Fall-Off-The-Bone Ribs, Made-From-Scratch Sides, and Fresh-Baked Bread. Everything they do goes into making their hearty meals stand out. They handcraft almost everything they serve. They provide larger portions so you get more food for your dollar. And if a customer wants an Ice Cold Beer or Legendary Margarita to wash it all down — well, they have those, too. Their food's not the only thing that’s Legendary at the Roadhouse — their fun is too! From their line dancers to their jukebox to their friendly servers, customers can enjoy every second they spend in a Texas Roadhouse