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Restaurant

Texas Roadhouse Ground Lease

3310 Gateway Blvd, Prescott, AZ 86303

Listing Price: $2,396,000

Cap Rate
5.00%
Tenant Name
Texas Roadhouse, Inc.
Years Remaining On Lease
5.7
Gross SF
7,171
Guarantor
Corporate Guarantee
Rentable SF
7,171
Price/Gross SF
$334.12
Lease Type
NNN Ground Lease
Rent Per Square Feet
$16.69

Investment Overview

Texas Roadhouse, Inc. is a growing restaurant company operating in the casual dining segment. The Company's late founder, W. Kent Taylor, started the business in 1993 with the opening of the first Texas Roadhouse in Clarksville, Indiana. As of September 28, 2021, the Company and it’s franchisees operate 654 restaurants system-wide in 49 states and 10 countries, including 616 Texas Roadhouse restaurants, 35 Bubba’s 33 restaurants, and three Jaggers restaurants. Prescott is a city in, of the county seat of, Arizona’s Yavapai County. A mile-high city, Prescott is nestled in the Ponderosa Pines of Prescott National Forest and is home to over 400 miles of hiking, mountain biking, and equestrian trails. The city’s classic downtown is brimming with Victorian homes, turn-of-the-century saloons and plenty of Western history with more than 700 homes and businesses listed in the National Register of Historic Places. Downtown’s majestic granite courthouse is set among green lawns and American elm trees that reflect the Midwestern and New England background of Prescott’s early pioneers.

Investment Highlights

  • Tenant Recently Renewed the Lease for Five Years per the Lease (No Negotiation), Showing Commitment to the Site
  • Absolute Triple-Net (NNN) Ground Lease with Six Years Remaining
  • 10 Percent Rental Increases Every Five Years
  • Corporate Guarantee with Texas Roadhouse (NASDAQ: TXRH), Projected to Open 25- 30 New Locations in 2022 - Over 650 Locations
  • 48,629 Residents in Growing Prescott Trade Area - Households Projected to Increase Over Five Percent Within a Five-Mile Radius by 2026
  • Outparcel to Prescott Valley Mall (Anchored by Dillard's and JCPenney), the Only Enclosed Shopping Mall Serving the Prescott and Prescott Valley Communities
  • Situated in Dense Retail Corridor - Costco, Walmart, Best Buy, Trader Joe's, In-N-Out Burger, and More
  • Located Directly Off AZ Route 69, the Primary Thoroughfare Connecting Prescott and Prescott Valley

Exclusively Listed By

Financing By

Restaurant

Texas Roadhouse Ground Lease

Listing Price: $2,396,000

Cap Rate
5.00%
Tenant Name
Texas Roadhouse, Inc.
Years Remaining On Lease
5.7
Gross SF
7,171
Guarantor
Corporate Guarantee
Rentable SF
7,171
Price/Gross SF
$334.12
Lease Type
NNN Ground Lease
Rent Per Square Feet
$16.69

Investment Highlights

  • Tenant Recently Renewed the Lease for Five Years per the Lease (No Negotiation), Showing Commitment to the Site
  • Absolute Triple-Net (NNN) Ground Lease with Six Years Remaining
  • 10 Percent Rental Increases Every Five Years
  • Corporate Guarantee with Texas Roadhouse (NASDAQ: TXRH), Projected to Open 25- 30 New Locations in 2022 - Over 650 Locations
  • 48,629 Residents in Growing Prescott Trade Area - Households Projected to Increase Over Five Percent Within a Five-Mile Radius by 2026
  • Outparcel to Prescott Valley Mall (Anchored by Dillard's and JCPenney), the Only Enclosed Shopping Mall Serving the Prescott and Prescott Valley Communities
  • Situated in Dense Retail Corridor - Costco, Walmart, Best Buy, Trader Joe's, In-N-Out Burger, and More
  • Located Directly Off AZ Route 69, the Primary Thoroughfare Connecting Prescott and Prescott Valley

Investment Overview

Texas Roadhouse, Inc. is a growing restaurant company operating in the casual dining segment. The Company's late founder, W. Kent Taylor, started the business in 1993 with the opening of the first Texas Roadhouse in Clarksville, Indiana. As of September 28, 2021, the Company and it’s franchisees operate 654 restaurants system-wide in 49 states and 10 countries, including 616 Texas Roadhouse restaurants, 35 Bubba’s 33 restaurants, and three Jaggers restaurants. Prescott is a city in, of the county seat of, Arizona’s Yavapai County. A mile-high city, Prescott is nestled in the Ponderosa Pines of Prescott National Forest and is home to over 400 miles of hiking, mountain biking, and equestrian trails. The city’s classic downtown is brimming with Victorian homes, turn-of-the-century saloons and plenty of Western history with more than 700 homes and businesses listed in the National Register of Historic Places. Downtown’s majestic granite courthouse is set among green lawns and American elm trees that reflect the Midwestern and New England background of Prescott’s early pioneers.

Exclusively Listed By

Financing By

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