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Restaurant

Las Brisas Steakhouse (Absolute Net)

4701 112th St, Lubbock, TX 79424

Listing Price: $3,769,000

Cap Rate
6.25%
Tenant Name
Las Brisas
Years Remaining On Lease
8.9
Gross SF
7,641
Guarantor
Corporate Guarantee
Rentable SF
7,641
Price/Gross SF
$493.26
Lease Type
Absolute Net
Rent Per Square Feet
$30.82

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net lease Las Brisas Steakhouse in Lubbock, Texas. The property consists of a 7,641-square foot, freestanding building that sits on approximately 3.97 acres of land. The tenant recently signed a new, 10-year absolute net lease in 2020, showing their commitment to the site. The property has excellent access and visibility on 114th Street in a highly affluent area of Lubbock. The area is extremely dense with more than 137,538 residents within a five-mile radius and an average household income of $123,647 within a one-mile radius. Surrounding retailers in the immediate area include H-E-B, Walmart SuperCenter, Chick-fil-A, Dunkin’, Whataburger, Panda Express, Academy Sports + Outdoors, O’Reilly Auto Parts, Wingstop and many more. Las Brisas Steakhouse has been in business for more than twenty years and is one of the premier, upscale steakhouses in Lubbock, Texas with all-natural angus and akaushi steaks, fresh seafood, over 650 wine selections, and an extensive scotch and whiskey collections. The property features a candlelit dining room and a waterfront patio with a waterfall.

Investment Highlights

  • Upscale Steakhouse in Affluent Area - Average Household Income of $123,647 (1 Mile)
  • Significant Area Development - H-E-B Opened its First Lubbock Store in 2020
  • Oversized 3.97 Acre Parcel with Ample Parking and Multiple Access Points
  • Resort-Style Experience – Las Brisas Steakhouse Neighbors The Fall at Suncrest, One of the Most Prestigious Neighborhoods in Lubbock, and The Falls Tennis & Athletic Club, a 47,000-Square-Foot Sports Club

Exclusively Listed By

Restaurant

Las Brisas Steakhouse (Absolute Net)

Listing Price: $3,769,000

Cap Rate
6.25%
Tenant Name
Las Brisas
Years Remaining On Lease
8.9
Gross SF
7,641
Guarantor
Corporate Guarantee
Rentable SF
7,641
Price/Gross SF
$493.26
Lease Type
Absolute Net
Rent Per Square Feet
$30.82

Investment Highlights

  • Upscale Steakhouse in Affluent Area - Average Household Income of $123,647 (1 Mile)
  • Significant Area Development - H-E-B Opened its First Lubbock Store in 2020
  • Oversized 3.97 Acre Parcel with Ample Parking and Multiple Access Points
  • Resort-Style Experience – Las Brisas Steakhouse Neighbors The Fall at Suncrest, One of the Most Prestigious Neighborhoods in Lubbock, and The Falls Tennis & Athletic Club, a 47,000-Square-Foot Sports Club

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net lease Las Brisas Steakhouse in Lubbock, Texas. The property consists of a 7,641-square foot, freestanding building that sits on approximately 3.97 acres of land. The tenant recently signed a new, 10-year absolute net lease in 2020, showing their commitment to the site. The property has excellent access and visibility on 114th Street in a highly affluent area of Lubbock. The area is extremely dense with more than 137,538 residents within a five-mile radius and an average household income of $123,647 within a one-mile radius. Surrounding retailers in the immediate area include H-E-B, Walmart SuperCenter, Chick-fil-A, Dunkin’, Whataburger, Panda Express, Academy Sports + Outdoors, O’Reilly Auto Parts, Wingstop and many more. Las Brisas Steakhouse has been in business for more than twenty years and is one of the premier, upscale steakhouses in Lubbock, Texas with all-natural angus and akaushi steaks, fresh seafood, over 650 wine selections, and an extensive scotch and whiskey collections. The property features a candlelit dining room and a waterfront patio with a waterfall.

Exclusively Listed By

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