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Texas Roadhouse Ground Lease, Texarkana , TX

Texas Roadhouse Ground Lease, Texarkana , TX


Investment Summary

Price $4,145,000
Cap Rate
NOI
Lease Term 20 years
Lease Type Absolute NNN ground lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years
Year Built 2024
Building Size 9,945 SF
Lot Size 2.74 acres (119,354 SF)
Status Closed
Lead Brokers Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Jack Hinson
Brokerage
704.572.9921
j.hinson@cushwake.com
CA RE License #02059267

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

RARE NEW 20-YEAR GROUND LEASE – RELOCATION STORE FROM #6
STORE IN THE COUNTRY

» Relocation store from 1.5 miles southwest, demonstrating tenant’s long-term commitment to the site
» Current store is ranked #2 in Texas and #6 nationwide for all Texas Roadhouse stores (out of 620+ locations)
» Average unit volumes for Texas Roadhouse are above $7.6M for the first time
» Subject site has larger building footprint, larger parcel, and more parking stalls than current store
» Purchase price well-below the overall capital investment of the tenant (average total capital investment for a new store in 2022 was $6.9M
» Very rare 20-year ground lease with 10% rental increases every five years
» Zero Landlord responsibilities, ideal for a passive or out of area investors

POSITIONED ALONG MAIN RETAIL CORRIDOR WITHIN TEXARKANA
» Current Texas Roadhouse store is the #2 store in Texas and #6 store nationwide (out of 620+ locations)
» Located next to new Bubba’s 33 (also available)
» Three miles from Texarkana city center
» Immediately surrounded by multiple residential developments – Summerhill Woods Apartments, Woodbridge Apartments, and Sedona Hills Apartments
» Proximity to other retail developments with tenants such as The Home Depot, Walmart, Lowe’s Home Improvement, Sam’s Club, Target, Hobby Lobby, and many others
» High-traffic location on Interstate 30 Frontage Road with excellent visibility and access to 74,250 vehicles per day

LOCATED IN HIGH TRAFFIC VOLUME COMMUNITY CENTER
» Walking distance from Texas High School – Texarkana (1,762 students)
» Minutes from Texas A&M – Texarkana (2,112 students) and Texarkana College (3,575 students) – Limited on-campus dining options: students rely heavily on off-campus restaurants and cafes
» Across the street from Christus St. Michael Hospital – 275 full-time staffed beds and 1,902 employees
» Strong one-mile average household income of $79,360
» Dense five-mile population of 72,915 residents

NEW 2024 CONSTRUCTION IN A TAX-FREE STATE
» New 2024 construction built to latest Texas Roadhouse prototype
» Texas is an income tax-free state

Property Description

SOLD

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