x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Contact Us

x

Phone: 916-403-1812

Email: McKenney.Houck@cushwake.com

Or contact us using the form below.


Texas Roadhouse Ground Lease, Hixson, TN

Texas Roadhouse Ground Lease, Hixson, TN


Investment Summary

Price $2,400,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Aboslute NNN Ground Lease, with Tenant Responsible for All Taxes, and Maintenance, Including Parking Lot, Roof, and Structure
Rental Increases 10% Rental Increase Every Five (5) Years
Year Built 2018
Building Size 7,163 SF
Lot Size 0.82 Acres (35,499 SF)
Status Under Contract
Lead Brokers Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN CORPORATE GROUND LEASE TO NOTABLE NATIONAL TENANT
» New 15-year lease with 10% rental increases every five years in initial term and option periods
» Absolute NNN ground lease requires no landlord management
» Texas Roadhouse (NASDAQ: “TXRH”) has annual revenues of $2.2 billion and operates over 560 locations

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 44,922 vehicles per day directly in front of the site on Highway 153
» Immediate access to Hixson Pike, a busy roadway with a traffic count of 40,000 vehicles per day near the property
» Outparcel to Gabe’s
» Within walking distance of Towne Center North—anchored by Target, Bed Bath & Beyond, Best Buy, and PetSmart—and Northgate Mall, featuring Belk, Hibbett Sports, Old Navy, Burlington, Ulta, and more

STRONG CUSTOMER BASE
» Close to Hixon High School (922 students) and Hixon Middle School (675 students)
» Near large employers like CHI Memorial Hospital Hixson, run by one of the region’s largest employers (2,869 employees in Chattanooga), and Kordsa (1,200 employees)
» Surrounded by residential neighborhoods

NEW 2018 CONSTRUCTION
» High-quality construction completed in September 2018
» Built by tenant at tenant’s expense, demonstrating long-term commitment to the location


Property Description

SOLD
The property is conveniently located on Highway 153, with excellent visibility and access to 44,922 vehicles per day directly in front of the site. Highway 153 provides immediate access to Hixson Pike, another busy roadway with a traffic count of 40,000 vehicles per day near the property. Located in a dense retail corridor, the property is outparcel to Gabe’s and is surrounded by large shopping center and notable national retailers. The property is adjacent to Lowe’s, Home Depot, and the Hobby Lobby-anchored Northtowne Center. The property is also within walking distance of Towne
Center North—anchored by Target, Bed Bath & Beyond, Best Buy, and PetSmart—and Northgate Mall, featuring Belk, Hibbett Sports, Old Navy, Burlington, Ulta, and more. Other notable retailers near the property include Walmart Supercenter, Planet Fitness, Aldi, Walgreens, Party City, Pep Boys, Books-A-Million, AMC Theatres, and Harbor Freight Tools, amongst others.

The property benefits from a strong customer base in the surrounding area. The property is close to Hixon High School (922 students) and Hixon Middle School (675 students). The property is also near large employers like CHI Memorial Hospital Hixon, run by one of the region’s largest employers, and Kordsa (1,200 employees). Additionally, the property is close to recreational areas and is surrounded by residential neighborhoods.

Download OM Form

x
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link