Retail

Texas Roadhouse - Steubenville OH

100 Mall Dr Steubenville, Ohio United States 43952-3092
Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Key Facts

Year Built 2013
Lease Type NNN
Current / Passing Rent
Lease Expiration 2033-04-30
Remaining Term 12 years, 7 months
Tenant Texas Roadhouse, Incorporated
Building Area
Land Area

Property Description

JLL is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single-tenant property corporately leased to Texas Roadhouse in Steubenville, Ohio. The property is conveniently situated off Route 43/ Sunset Boulevard, a main thoroughfare in the region that boasts more than 24,150 VPD.

The tenant has been operating at this location since 2013 and recently executed a long-term, 10-year lease extension, showing commitment to this location. There are now 13 years remaining on the NNN ground lease with attractive, 5% rental increases throughout the remainder of the primary term. These 5% rental increases will also continue in the two, 5 year option periods that remain.

Investment Highlights

  • Amid COVID, tenant has reported 2020 sales (January - July) of $2.36 million, showing signs of strong profitability and performance amid a pandemic that is hurting like-kind competitors
  • Operating at this location since 2013 and recently signed a 10-year lease extension
  • Attractive 5% rental increases throughout the primary term and option periods, showing a true commitment to the location
  • Location benefits from a population of 41,000+ within a 5-mile radius and an average household income of $61,500
  • According to Placer.ai technology, this Texas Roadhouse ranks 2nd out of 47 dining venues within a 15-mile region in terms of the number of visits
Last Updated Date: 27 Aug 2020
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
License details
475.189621

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Last Updated Date: 27 Aug 2020

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