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Restaurant

Longhorn Steakhouse

300 Maine Mall Rd, South Portland, ME 04106

Listing Price: $3,578,585

Cap Rate
5.30%
Tenant Name
Longhorn Steakhouse
Years Remaining On Lease
8.6
Guarantor
No Guarantee
Rentable SF
5,901
Lease Type
Ground Lease
Rent Per Square Feet
$32.14

Investment Overview

Longhorn Steakhouse is a wholly owned subsidiary of the Darden Restaurants Group. There are 491 locations with corporate offices located in Orlando, Florida. The subject site offers a true NNN ground lease with the Tenant having exercised both their first and second options, showing their strong desire to be at this location. They’ve been in operation for 28 years. Tenant pays all CAM related charges to Landlord as pass thru to Macy’s with annual reconciliation adjustments as needed

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Investment Highlights

  • 9 years remaining on NNN ground lease. No landlord responsibilities.
  • Original lease commenced 9/2001. Tenant recently exercised their second option early, taking the lease through 8/2029. Shows Tenant's strong desire to remain at location.
  • Site has remained open for business during the pandemic with no rent abatement or deferral.
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Exclusively Listed By

Broker of Record

  • James M. Koury

    Senior Managing Director Investments

    License(s): ME: DB904355

    Maine

Restaurant

Longhorn Steakhouse

300 Maine Mall Rd, South Portland, ME 04106

View Listing Documents
Property Image
Property Image
Gallery View Map Street View

Listing Price: $3,578,585

Cap Rate
5.30%
Tenant Name
Longhorn Steakhouse
Years Remaining On Lease
8.6
Guarantor
No Guarantee
Rentable SF
5,901
Lease Type
Ground Lease
Rent Per Square Feet
$32.14

Investment Highlights

  • 9 years remaining on NNN ground lease. No landlord responsibilities.
  • Original lease commenced 9/2001. Tenant recently exercised their second option early, taking the lease through 8/2029. Shows Tenant's strong desire to remain at location.
  • Site has remained open for business during the pandemic with no rent abatement or deferral.

Investment Overview

Longhorn Steakhouse is a wholly owned subsidiary of the Darden Restaurants Group. There are 491 locations with corporate offices located in Orlando, Florida. The subject site offers a true NNN ground lease with the Tenant having exercised both their first and second options, showing their strong desire to be at this location. They’ve been in operation for 28 years. Tenant pays all CAM related charges to Landlord as pass thru to Macy’s with annual reconciliation adjustments as needed

Read More

Exclusively Listed By

Broker of Record

  • James M. Koury

    Senior Managing Director Investments

    License(s): ME: DB904355

    Maine

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