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Restaurant

Texas Roadhouse (Ground Lease)

24530 Tomball Pkwy, Tomball, TX 77375

Listing Price: $1,784,000

Cap Rate
4.75%
Tenant Name
Texas Roadhouse
Years Remaining On Lease
5.4
Gross SF
6,995
Guarantor
Corporate Guarantee
Rentable SF
6,995
Price/Gross SF
$255.04
Lease Type
Ground Lease
Rent Per Square Feet
$12.11

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed Texas Roadhouse ground lease in Tomball, Texas. The property consists of a 6,995-square foot, freestanding building that sits on approximately 1.02 acres of land. There are approximately 5.4 years remaining on the current lease term, with a 10 percent rental escalation scheduled in the next option, as well as each option thereafter. The property has excellent access and visibility on Tomball Tollway, where traffic counts exceed 104,863 vehicles per day. The area is rapidly growing with the population increasing by 113% since 2000. Currently there are more than 186,542 residents within a five-mile radius. Surrounding retailers in the immediate area include Regal Movie Theatre, Bahama Buck’s, Rudy’s Texas Barbecue, Walgreens, McDonald’s, CVS, Chase Bank, Little Woodrow’s and many more. The city of Tomball is 30 miles northwest of Downtown Houston. It has experienced positive population and business growth in the past few years. The city is home to more than 1,500 businesses and nearly 14,000 employees. Additionally, the Tomball-Magnolia area has grown 19.5% from 2014-2019.

Investment Highlights

  • Average Household Income of Nearly $135,680 and 113% Population Growth Since 2000 (5-Mile Radius)
  • 5.4 Years Remaining on an Absolute Net Lease with a Corporate Guarantee from Texas Roadhouse Holdings, LLC
  • Direct Access to U.S. Highway 421 (104,863 VPD) Off-Ramp
  • Freeway Site – Outparcel to the Regal Movie Theatre-Anchored Northpointe Shopping Center

Exclusively Listed By

Restaurant

Texas Roadhouse (Ground Lease)

Listing Price: $1,784,000

Cap Rate
4.75%
Tenant Name
Texas Roadhouse
Years Remaining On Lease
5.4
Gross SF
6,995
Guarantor
Corporate Guarantee
Rentable SF
6,995
Price/Gross SF
$255.04
Lease Type
Ground Lease
Rent Per Square Feet
$12.11

Investment Highlights

  • Average Household Income of Nearly $135,680 and 113% Population Growth Since 2000 (5-Mile Radius)
  • 5.4 Years Remaining on an Absolute Net Lease with a Corporate Guarantee from Texas Roadhouse Holdings, LLC
  • Direct Access to U.S. Highway 421 (104,863 VPD) Off-Ramp
  • Freeway Site – Outparcel to the Regal Movie Theatre-Anchored Northpointe Shopping Center

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed Texas Roadhouse ground lease in Tomball, Texas. The property consists of a 6,995-square foot, freestanding building that sits on approximately 1.02 acres of land. There are approximately 5.4 years remaining on the current lease term, with a 10 percent rental escalation scheduled in the next option, as well as each option thereafter. The property has excellent access and visibility on Tomball Tollway, where traffic counts exceed 104,863 vehicles per day. The area is rapidly growing with the population increasing by 113% since 2000. Currently there are more than 186,542 residents within a five-mile radius. Surrounding retailers in the immediate area include Regal Movie Theatre, Bahama Buck’s, Rudy’s Texas Barbecue, Walgreens, McDonald’s, CVS, Chase Bank, Little Woodrow’s and many more. The city of Tomball is 30 miles northwest of Downtown Houston. It has experienced positive population and business growth in the past few years. The city is home to more than 1,500 businesses and nearly 14,000 employees. Additionally, the Tomball-Magnolia area has grown 19.5% from 2014-2019.

Exclusively Listed By

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