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Restaurant

Texas Roadhouse Ground Lease | New 15-Yr. with 10% Increases Every 5 Years

3450 E Andrew Johnson Hwy, Greeneville (West of Johnson City), TN 37745

Listing Price: $2,455,000

Cap Rate
5.50%
Tenant Name
Texas Roadhouse
Years Remaining On Lease
15.4
Guarantor
Corporate Guarantee
Rentable SF
7,926
Lease Type
Absolute Net
Rent Per Square Feet
$17.03

Investment Overview

Marcus & Millichap is pleased to present the Texas Roadhouse Ground Lease in Greeneville, TN.

Investment Highlights

  • 15-Year Absolute NNN Ground Lease with 10% Increases Every 5 Years
  • Corporate Guaranty (NASDAQ: TXRH), 753 Locations and $4.63 Billion in Annual Revenue
  • Purchase Price Well-Below Capital Investment Made by Tenant, Average Capital Investment for a New Restaurant is $7.8 Million
  • Average Unit-Level Sales for Texas Roadhouse in 2023 was Approximately $7.6 Million, Up 9.9% YOY
  • Brand New High-Quality Construction with a Window for Takeout/Online Orders
  • Strategic Location, Closest Texas Roadhouse is Over 27 Miles Away
  • Strong Average Household Incomes in Excess of $84,000 in Immediate Trade Area
  • Regional Retail Hub, Down the Street from Walmart Supercenter, Lowe's, Publix, Aldi, Hobby Lobby, Ross, Marshalls, and Many More

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s) TN: 307629

    Tennessee

Financing By

Restaurant

Texas Roadhouse Ground Lease | New 15-Yr. with 10% Increases Every 5 Years

Listing Price: $2,455,000

Cap Rate
5.50%
Tenant Name
Texas Roadhouse
Years Remaining On Lease
15.4
Guarantor
Corporate Guarantee
Rentable SF
7,926
Lease Type
Absolute Net
Rent Per Square Feet
$17.03

Investment Highlights

  • 15-Year Absolute NNN Ground Lease with 10% Increases Every 5 Years
  • Corporate Guaranty (NASDAQ: TXRH), 753 Locations and $4.63 Billion in Annual Revenue
  • Purchase Price Well-Below Capital Investment Made by Tenant, Average Capital Investment for a New Restaurant is $7.8 Million
  • Average Unit-Level Sales for Texas Roadhouse in 2023 was Approximately $7.6 Million, Up 9.9% YOY
  • Brand New High-Quality Construction with a Window for Takeout/Online Orders
  • Strategic Location, Closest Texas Roadhouse is Over 27 Miles Away
  • Strong Average Household Incomes in Excess of $84,000 in Immediate Trade Area
  • Regional Retail Hub, Down the Street from Walmart Supercenter, Lowe's, Publix, Aldi, Hobby Lobby, Ross, Marshalls, and Many More

Investment Overview

Marcus & Millichap is pleased to present the Texas Roadhouse Ground Lease in Greeneville, TN.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s): TN: 307629

    Tennessee

Financing By

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