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Texas Roadhouse 8650 Duncan Ave

7,372 SF Retail Building Pittsburgh, PA 15237 $2,300,000 ($312/SF) 5% Cap Rate

Investment Highlights

  • Approximately 12-Years Remaining | Scheduled Rental Increases | Corporate Guaranteed | Well-Known & Established Tenant
  • Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes
  • McKnight Rd (45,400 VPD) | Interstate 279 (70,800 VPD) | Centralized Location | Excellent Visibility
  • Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
  • Dense Retail Corridor | Strong National/Credit Tenant Presence | Positioned Near Three Major Shopping Centers

Executive Summary

SRS Real Estate Partners-Northeast, LLC 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 Pittsburgh, PA. The tenant, Texas Roadhouse Holdings, LLC has approximately 12 years remaining on the lease 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 corporate guaranteed (NASDAQ: TXRH), and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. With over a 100% increase in stock price throughout the last 5 years, Texas Roadhouse continues to see immaculate growth, as the chain was ranked one of the most popular restaurants during the COVID-19 pandemic.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,372 SF
Building Class
B
Year Built
2017
Price
$2,300,000
Price Per SF
$312
Cap Rate
5%
NOI
$115,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.92 AC
Zoning
M-U - Urban District

Nearby Major Retailers

Texas Roadhouse
LA Fitness
WesBanco
CycleBar
KeyBank
Club Pilates
Row House
The Original Pancake House
Olive Garden
PNC Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0715-K-00045-0000-00
Land Assessment
$1,015,500
Improvements Assessment
$683,600
Total Assessment
$1,699,100
  • Listing ID: 34214089

  • Date on Market: 12/16/2024

  • Last Updated:

  • Address: 8650 Duncan Ave, Pittsburgh, PA 15237

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