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Longhorn 4758 Highway 90

6,000 SF Retail Building Pace, FL 32571 $3,000,000 ($500/SF) 5% Cap Rate

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Investment Highlights

New 10-year absolute NNN ground lease to Longhorn Steakhouse, one of the largest steakhouse chains in the U.S.
In March 2024, the American Customer Satisfaction Index (ACSI) shows LongHorn Steakhouse reached the 80% mark in “net favorability toward taste

10% rental increases every five (5) years in initial term and option periods, offering projected growth over a long-term investment
Same-restaurant sales grew 4% year-over-year at LongHorn Steakhouse in Q1 2024

Executive Summary

Located just off of US-90, this LongHorn Steakhouse location is ideally situated along the largest retail and motor traffic artery in Pace. The site has direct access to over 33,000 vehicles daily directly in front of the site. Surrounded by other top-tier national tenants such as Walmart, Lowe’s, Home Depot, Target, Publix and many others provide this LongHorn Steakhouse location with greatly increased visibility. Positioned in between both Naval Air Station Pensacola and Eglin Air Force Base, this site gains access to over 23,000 military personnel from the naval Air station and an additional 20,000 servicemen from Eglin Air Force Base. The property benefits immensely from a densely populated and affluent local population, with the average household income exceeding $100,000 for the nearly 70,000 people who live within a five-mile radius of the site. Many community hubs and high-traffic centers surround Caliber such as University of West Florida (14,343 students), Pace High School (2,240 students), Pace Crossroads Shopping Center, The Alamo retired Naval Base, and many others. Downtown Milton, FL is situated only four miles from the Caliber Collision site and provides the property with access to more than 10,000 additional residents.