Texas Roadhouse | 10340 E Us-36
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Texas Roadhouse 10340 E Us-36
7,480 SF Retail Building Avon, IN 46123 £4,516,308 (£604/SF) 5.25% Net Initial Yield
Investment Highlights
- Land & Building Ownership Allows for Depreciation Tax Benefits
- 10% Rental Increases Every Five Years & in Option Periods
- 5-Mile Average Household Income of +/-$131,000 and 5-Mile Consumer Spending Approximately $2.4 Billion
- Base Lease Term of 15 Years with Three, Five-Year Options to Renew & Zero Landlord Responsibilities
- Brand-New Lease with Texas Roadhouse, Inc. (NASDAQ: TXRH)
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire a rare, fee-simple ownership (land + building) Texas Roadhouse with a brand-new, 15-year, absolute NNN lease located in the city of Avon, part of Hendricks County; a high growth and affluent western suburb of Indianapolis, Indiana.
Subject to a brand-new, 15-year, absolute triple-net lease with zero landlord responsibilities, the property has been operating as a Texas Roodhouse for 25 years. The lease calls for 10% rental increases every five years throughout the base term and at each of the three, five-year option periods. The lease is guaranteed by Texas Roadhouse Corporate (NASDAQ: TXRH), which operates +/-800 locations across multiple restaurant concepts and had a market value of approximately $12 billion as of Q4 2024.
The offering is a perfect investment opportunity for any passive investor looking for high-quality real estate in a premier, affluent submarket with high barriers of entry and limited real estate transaction velocity with a long-term, corporately guaranteed lease with investment appreciation potential, rental income growth and immediate potential tax depreciation benefits.
Subject to a brand-new, 15-year, absolute triple-net lease with zero landlord responsibilities, the property has been operating as a Texas Roodhouse for 25 years. The lease calls for 10% rental increases every five years throughout the base term and at each of the three, five-year option periods. The lease is guaranteed by Texas Roadhouse Corporate (NASDAQ: TXRH), which operates +/-800 locations across multiple restaurant concepts and had a market value of approximately $12 billion as of Q4 2024.
The offering is a perfect investment opportunity for any passive investor looking for high-quality real estate in a premier, affluent submarket with high barriers of entry and limited real estate transaction velocity with a long-term, corporately guaranteed lease with investment appreciation potential, rental income growth and immediate potential tax depreciation benefits.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,480 SF
Building Class
C
Year Built
1999
Price
£4,516,308
Price Per SF
£604
Net Initial Yield
5.25%
NOI
£237,106
Tenancy
Single
Number of Floors
1
Parking
110 Spaces (14.71 Spaces per 1,000 SF Leased)
Nearby Major Retailers
1 of 4
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Texas Roadhouse | 10340 E Us-36
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