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Restaurant

Longhorn

1314 US-82, Tifton, GA 31794

Listing Price: $2,115,000

Cap Rate
4.50%
Tenant Name
Longhorn
Years Remaining On Lease
10.0
Guarantor
Corporate Guarantee
Rentable SF
5,057
Lease Type
NNN Ground Lease
Rent Per Square Feet
$18.82

Investment Overview

JUST RENEWED 10 YEAR CORPORATE GROUND LEASE • Longhorn has been operating at this location since 2001 and recently signed a new 10 year corporate ground lease commencing in July 2022. • Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure. • There are 10% rent increases every 5 years in the initial term and in each of the Two, Five year option periods. LONGHORN STEAKHOUSE | DARDEN RESTAURANTS • Longhorn Steakhouse is an American casual dining restaurant chain owned and operated by Darden Restaurants, Inc. • Darden is an investment grade BBB credit rated tenant with more than 1,800 restaurant locations and 175,000 employees making it the world’s largest full-service restaurant company. Longhorn has 559 locations and does over $1.6 billion in annual sales. • Longhorn was founded in 1981 and is headquartered in Orlando, FL. ATTRACTIVE INTERSTATE LOCATION • This Longhorn is located on Hwy 82 (17,900 VPD) and directly off interstate 75 (52,200 VPD). • I-75 is a major interstate that runs directly through downtown Atlanta and connects North Georgia to Florida. PRIMARY RETAIL CORRIDOR • The subject property is well located on Tifton’s main retail corridor with 2 million SF of retail in a 1 mile radius. • National tenants include Publix, Walmart, Lowe’s Home Improvement, Hobby Lobby and more. TIFTON • Tifton is the county seat of Tift County and is a regional hub for healthcare, retail, agriculture, manufacturing, warehousing and distribution, as well as a major stopping point for motorists on their way to Florida destinations. • Agriculture is the No. 1 industry in the state of Georgia and it’s by far the No. 1 industry in South Georgia, and Tifton plays a major role. • Abraham Baldwin Agricultural College and University of GA Tifton Campus have a combined $169 Million economic impact on the Tifton Economy. • Tift Regional Medical Center is a 191 bed that is a major economic engine with approximately 2,000 employees and a nearly half-a-billion-dollar impact on the local economy. • Downtown Tifton’s occupancy level is at 98% with over 250 businesses situated within Tifton’s Inner-City Business District.

Investment Highlights

  • 10 Year Corporate Ground Lease
  • 10% Increase In Initial Term & Options
  • Interstate Location (52,200 VPD)
  • Retail Corridor 2M SF In 1 Mile Radius
  • Tifton Regional Hub Of South GA
  • Investment Grade Tenant

Exclusively Listed By

Financing By

Restaurant

Longhorn

Listing Price: $2,115,000

Cap Rate
4.50%
Tenant Name
Longhorn
Years Remaining On Lease
10.0
Guarantor
Corporate Guarantee
Rentable SF
5,057
Lease Type
NNN Ground Lease
Rent Per Square Feet
$18.82

Investment Highlights

  • 10 Year Corporate Ground Lease
  • 10% Increase In Initial Term & Options
  • Interstate Location (52,200 VPD)
  • Retail Corridor 2M SF In 1 Mile Radius
  • Tifton Regional Hub Of South GA
  • Investment Grade Tenant

Investment Overview

JUST RENEWED 10 YEAR CORPORATE GROUND LEASE • Longhorn has been operating at this location since 2001 and recently signed a new 10 year corporate ground lease commencing in July 2022. • Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure. • There are 10% rent increases every 5 years in the initial term and in each of the Two, Five year option periods. LONGHORN STEAKHOUSE | DARDEN RESTAURANTS • Longhorn Steakhouse is an American casual dining restaurant chain owned and operated by Darden Restaurants, Inc. • Darden is an investment grade BBB credit rated tenant with more than 1,800 restaurant locations and 175,000 employees making it the world’s largest full-service restaurant company. Longhorn has 559 locations and does over $1.6 billion in annual sales. • Longhorn was founded in 1981 and is headquartered in Orlando, FL. ATTRACTIVE INTERSTATE LOCATION • This Longhorn is located on Hwy 82 (17,900 VPD) and directly off interstate 75 (52,200 VPD). • I-75 is a major interstate that runs directly through downtown Atlanta and connects North Georgia to Florida. PRIMARY RETAIL CORRIDOR • The subject property is well located on Tifton’s main retail corridor with 2 million SF of retail in a 1 mile radius. • National tenants include Publix, Walmart, Lowe’s Home Improvement, Hobby Lobby and more. TIFTON • Tifton is the county seat of Tift County and is a regional hub for healthcare, retail, agriculture, manufacturing, warehousing and distribution, as well as a major stopping point for motorists on their way to Florida destinations. • Agriculture is the No. 1 industry in the state of Georgia and it’s by far the No. 1 industry in South Georgia, and Tifton plays a major role. • Abraham Baldwin Agricultural College and University of GA Tifton Campus have a combined $169 Million economic impact on the Tifton Economy. • Tift Regional Medical Center is a 191 bed that is a major economic engine with approximately 2,000 employees and a nearly half-a-billion-dollar impact on the local economy. • Downtown Tifton’s occupancy level is at 98% with over 250 businesses situated within Tifton’s Inner-City Business District.

Exclusively Listed By

Financing By

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