Lake Park, FL - Texas Roadhouse

Description:

SRS National Net Lease is pleased to offer the rare opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, corporate guaranteed, newly built, Texas Roadhouse investment property located in Lake Park, FL. The tenant, Texas Roadhouse, Inc., will sign a brand new 15-year lease with 4 (5-year) options at the close of escrow, demonstrating their long-term commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is corporate guaranteed (NASDAQ: TXRH), and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. With over a 100% increase in stock price throughout the last 5 years, Texas Roadhouse continues to see immaculate growth, as the chain was ranked one of the most popular restaurants during the COVID-19 pandemic. The building, which opened on July 1st, 2024, features a state-of-the-art design using high quality materials.

Texas Roadhouse is located at the signalized, hard corner intersection of N Congress Ave and Watertower Rd with a combined 34,000 vehicles passing by daily. N Congress Ave, is a major retail thoroughfare serving the city of Lake Park. The property has clear visibility and access to and Interstate 95 (210,000 VPD), which is a major north/south travelling interstate spanning up and down the east coast. The property is ideally situated within a dense retail corridor with many nearby national/credit tenants including Walmart Supercenter, Lowe’s Home Improvement, The Home Depot, HomeGoods, Kohl’s, Target, and others. In addition, Texas Roadhouse is located nearby several shopping centers including Northlake Commons (278,000 SF), The Plaza at Lake Park (164,000 SF), and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the property is within proximity to numerous single-family communities and multi-family complexes including Woodbine Apartment Homes (408 units), Oleandor Terrace (512 units), Indian Trace Apartments (330 units), and others, providing a direct residential consumer base from which the site can draw. The 5-mile trade area is supported by over 185,800 residents and 122,000 daytime employees. Residents within 1 mile of the site boast a healthy average household income of $122,539.