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Sherman, TX - LongHorn Steakhouse

$3,000,000

NEC US Hwy 75 & E Lamberth Rd, Sherman, TX 75090

Active
Last Updated: 08/18/2026

5

Cap Rate

150,000

NOI

Details:
Cap Rate:    5%
NOI:    $150,000
Building Size:    5,780 sqft
Lot Area:    1.7 acres
Zoning:    C-1 Retail Business District
Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, LongHorn Steakhouse investment property located in Sherman, Texas. The tenant, LongHorn Steakhouse, recently signed a brand new 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. The tenant plans to open for business in January 2027 (all developer obligations have been met, seller will credit buyer if closing occurs before the rent commencement date).

The LongHorn Steakhouse is located at the hard corner intersection of N Sam Rayburn Freeway and E Lamberth Road, providing excellent visibility to the site. Furthermore, the asset is located just off of Highway 75, which sees 58,000 vehicles per day. The LongHorn Steakhouse is a part of a new development that will feature Bubba’s 33 and a hotel. In addition, the asset is located in close proximity to a Lowe’s-anchored center with other national/credit tenants including Bomgaars, Texas Roadhouse, Chili’s, and UPS. The subject property is less than 1 mile from Sherman Town Center, which features tenants such as Target, Hobby Lobby, Ross, Chick-fil-A, Raising Cane’s, Dutch Bros, and many others. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, the Home Depot, Academy, Sam’s Club, Kohl’s, Starbucks, Jersey Mike’s, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 55,200 residents and 29,700 employees with an average household income of $88,186.

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