Eagle Pass, TX - Texas Roadhouse

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Texas Roadhouse investment property located in Eagle Pass, Texas. The tenant, Texas Roadhouse, Inc recently signed a brand new 15-year lease with 3 (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 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 property is located along S Bibb Ave, which averages 22,400 vehicles passing by daily and is the major retail thoroughfare serving the city of Eagle Pass. The Texas Roadhouse is an outparcel to a Walmart Supercenter and Lowe’s Home Improvement anchored center that also features national/credit tenants including PNC Bank, Denny’s, and Murphy USA pads. Additionally, the asset is located just across the road from Mall De Las Aguilas, a 447,000 square foot regional mall that is anchored by Ross Dress for Less, Marshalls, and Burlington. Furthermore, the site is positioned just south from an HEB anchored center, a 96,000 square foot center that also features an Aaron’s and Shell. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Kohl’s, Dollar General, CVS Pharmacy, Walgreens, Exxon, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 50,800 with an average household income of $67,378.