Ruston, LA - Texas Roadhouse

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN ground leased, Texas Roadhouse investment property located in Ruston, Louisiana. The tenant, Texas Roadhouse, 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 absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Texas Roadhouse is located near the signalized, hard corner intersection of Interstate 20 and US Highway 167 which combine to average over 89,200 vehicles per day. Interstate 20 is the major retail thoroughfare serving the city of Ruston. The Texas Roadhouse is in close proximity to North Park Mall Shopping Center that features national/credit tenants including Hibbett Sports, Planet Fitness, Office Depot, Bath & Body Works, McDonald’s, Harbor Freight, bealls, and Chase Bank. In addition, the Texas Roadhouse is also near Walmart Plaza, a Walmart Supercenter anchored center with other national/credit tenants such as GameStop, Dollar Tree, Petsense, GNC, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Lowes, Shoe Dept, Raising Cane’s, Whataburger, Wingstop, Anytime Fitness, Walgreens, and more. The asset is also located just 1 mile from Louisiana Tech University which has over 12,000 students. The 5-mile trade area is supported by a population of over 34,300 residents and 21,200 employees with an average household income of $59,033.