Bubba’s 33 Ground Lease – Texas Roadhouse, Inc.,
Oklahoma City, OK Investment Summary
| Price | $2,625,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2019 |
| Building Size | 7,199 SF |
| Lot Size | 1.05 Acres (45,860 SF) |
| Status | Sold |
| 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
15-YEAR ABSOLUTE NNN CORPORATE GUARANTEED GROUND LEASE
» Lease executed by Texas Roadhouse, Inc. (NASDAQ: “TXRH”)
» Absolute NNN ground lease with no landlord management, providing an ideal investment for an out-of-area investor
» 10% rental increases every five years and in option periods
IRREPLACEABLE INFILL LOCATION IN DENSE RETAIL CORRIDOR
» Conveniently located on South West 3rd Street, a frontage road for U.S. Interstate 40, with excellent visibility and access to 104,129 vehicles per day via South Macarthur Boulevard with 25,281 AADT
» Prominent location in the heart of Westgate Marketplace, one of Oklahoma’s premier retail shopping centers anchored by Walmart Supercenter and Hobby Lobby
» Surrounded by notable tenants such as Best Buy, PetSmart, McDonalds, Starbucks, Chickfil- A, Ross, Texas Roadhouse, and Office Depot
DENSELY POPULATED AREA WITH ROBUST DEMOGRAPHICS
» 170,750 residents within five miles of the property
» 15 minutes from Downtown Oklahoma City and Chesapeake Energy Arena home of the NBA’s Oklahoma Thunder, which has18,000 seats
» Short distance from Will Rogers World Airport, serving 3.6 million passengers annually
» Close to several schools, including Oklahoma State University, with 7,700+ students
» Five miles from The National Stock Yards, the world’s largest feeder and stocker cattle market
Property Description
SOLD
The property is conveniently located on Southwest 3rd Street, a frontage road for U.S. Interstate 40, the main eastwest thoroughfare for Oklahoma City, with excellent visibility and access to 104,129 vehicles per day. The property is immediately west of the interchange between U.S. Interstate 40 and South MacArthur Boulevard, which experiences a high traffic volume of 25,841 vehicles per day. Located in a dense retail corridor, the property is centrally located in Westgate Marketplace, one of Oklahoma’s premier retail shopping centers anchored by Walmart Supercenter and Hobby Lobby and featuring notable tenants like Best Buy, PetSmart, McDonalds, Starbucks, Chick-fil-A, Ross, Texas Roadhouse, Office Depot, and many more.
The property is centrally located near large schools and major employers. Oklahoma State University, one of the state’s largest institutions, is located approximately three (3) miles from the property and has 7,700+ students. The National Stock Yards, the world’s largest feeder and stocker cattle market having had 102,000,000 head of livestock pass through is within minutes of the property. The site is also minutes from Downtown Oklahoma City and prominently situated on the main route to and from Chesapeake Energy Arena, home of the NBA’s Oklahoma City Thunder, which has 18,000 seats. Visibility is increased by the location’s proximity to Will Rogers World Airport, which serves 3.6 million passengers annually.
