Texas RoadHouse | 1405 N Shadeland Ave
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Texas RoadHouse 1405 N Shadeland Ave
7,342 SF Retail Building Indianapolis, IN 46219 £5,115,951 (£697/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
- Brand-New Lease with Texas Roadhouse, Inc. (NASDAQ: TXRH)
- Base Lease Term of 15 Years with Three, Five-Year Options to Renew & Zero Landlord Responsibilities
- 5-Mile Population of +/-230,000 and 5-Mile Consumer Spending Approximately $2.2 Billion
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 Indianapolis, Indiana and 25+ years of occupancy history at the subject site.
The Property is subject to a brand-new, 15-year, absolute NNN lease with zero landlord responsibilities. The lease calls for substantial 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 locates across multiple restaurant concepts and had a market value of +/-$13B as of Q3 2024.
The offering is the perfect investment opportunity for any passive investor looking for quality real estate located with a major metro MSA and along a major retail/traffic corridor with a long-term, corporately guaranteed tenant.
The Property is subject to a brand-new, 15-year, absolute NNN lease with zero landlord responsibilities. The lease calls for substantial 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 locates across multiple restaurant concepts and had a market value of +/-$13B as of Q3 2024.
The offering is the perfect investment opportunity for any passive investor looking for quality real estate located with a major metro MSA and along a major retail/traffic corridor with a long-term, corporately guaranteed tenant.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,342 SF
Building Class
C
Year Built
1998
Price
£5,115,951
Price Per SF
£697
Net Initial Yield
5.25%
NOI
£268,587
Tenancy
Single
Number of Floors
1
Building FAR
0.10
Lot Size
1.63 AC
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 49-07-36-118-025.000-700 | Improvements Assessment | £545,814 |
| Land Assessment | £292,299 | Total Assessment | £838,113 |
PROPERTY TAXES
Parcel Number
49-07-36-118-025.000-700
Land Assessment
£292,299
Improvements Assessment
£545,814
Total Assessment
£838,113
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Texas RoadHouse | 1405 N Shadeland Ave
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