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Restaurant

Texas Roadhouse Ground Lease New 15-Year Extension

2540 W Iles Ave, Springfield, IL 62704

Listing Price: $2,957,777

Cap Rate
4.50%
Tenant Name
Texas Roadhouse
Years Remaining On Lease
16.5
Guarantor
Corporate Guarantee
Rentable SF
7,135
Lease Type
Ground Lease
Rent Per Square Feet
$18.65

Investment Overview

Marcus & Millichap is pleased to present this Texas Roadhouse in Springfield, Illinois. This corporately guaranteed, ground lease with a new 15-year lease extension to commence in November 2023. Corporately guaranteed by Texas Roadhouse Holdings, LLC. With 10% rental increase every five years. There is three, five-year options remaining with 10% rental increases. This national tenant has a long operating history and was built-to-suit for Texas Roadhouse in 2009. The property is shadow-anchored by successful White Oaks Mall. The mall is home to 77 stores and is 928,772 square feet. Anchor tenants include Macy’s, Michaels, and Dick’s Sporting Goods. Ideally situated at the intersection of Veterans Parkway and Iles Avenue with 43,000 total vehicles passing per day. There is an abundance of major retailers in the area. Less than a mile from White Oaks Plaza and Southwest Plaza. Attractive demographics in an affluent area with high population. 101,696 people live within a five-mile radius with a daytime population of 151,107 people within a five-mile radius. 2021 average household income of $130,426 within a one-mile radius

Investment Highlights

  • Corporately Guaranteed, Ground Lease | 15-Year Lease Extension to Commence in November 2023
  • Long Operating History | Built-to-Suit for Texas Roadhouse in 2009
  • National Tenant | Texas Roadhouse
  • Shadow-Anchored by Successful White Oaks Mall
  • Ideally Situated at the Intersection of Veterans Parkway and Iles Avenue | 43,000 Total Vehicles Passing per Day
  • Attractive Demographics | Affluent Area with High Population

Exclusively Listed By

Restaurant

Texas Roadhouse Ground Lease New 15-Year Extension

Listing Price: $2,957,777

Cap Rate
4.50%
Tenant Name
Texas Roadhouse
Years Remaining On Lease
16.5
Guarantor
Corporate Guarantee
Rentable SF
7,135
Lease Type
Ground Lease
Rent Per Square Feet
$18.65

Investment Highlights

  • Corporately Guaranteed, Ground Lease | 15-Year Lease Extension to Commence in November 2023
  • Long Operating History | Built-to-Suit for Texas Roadhouse in 2009
  • National Tenant | Texas Roadhouse
  • Shadow-Anchored by Successful White Oaks Mall
  • Ideally Situated at the Intersection of Veterans Parkway and Iles Avenue | 43,000 Total Vehicles Passing per Day
  • Attractive Demographics | Affluent Area with High Population

Investment Overview

Marcus & Millichap is pleased to present this Texas Roadhouse in Springfield, Illinois. This corporately guaranteed, ground lease with a new 15-year lease extension to commence in November 2023. Corporately guaranteed by Texas Roadhouse Holdings, LLC. With 10% rental increase every five years. There is three, five-year options remaining with 10% rental increases. This national tenant has a long operating history and was built-to-suit for Texas Roadhouse in 2009. The property is shadow-anchored by successful White Oaks Mall. The mall is home to 77 stores and is 928,772 square feet. Anchor tenants include Macy’s, Michaels, and Dick’s Sporting Goods. Ideally situated at the intersection of Veterans Parkway and Iles Avenue with 43,000 total vehicles passing per day. There is an abundance of major retailers in the area. Less than a mile from White Oaks Plaza and Southwest Plaza. Attractive demographics in an affluent area with high population. 101,696 people live within a five-mile radius with a daytime population of 151,107 people within a five-mile radius. 2021 average household income of $130,426 within a one-mile radius

Exclusively Listed By

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