Denton, TX - Longhorn Steakhouse

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, corporate signed, freestanding Longhorn Steakhouse investment property located in Denton, Texas (Dallas-Fort Worth MSA). The tenant, Rare Hospitality International, Inc 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 in March 2029 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 Longhorn Steakhouse is located along Interstate 35, which averages 115,000 vehicles passing by daily and is a major retail thoroughfare serving the city of Denton. The property is an outparcel to a brand new build Buc-ee’s, helping draw consumers into the trade area. Additionally, the asset is located a mile southeast of Golden Triangle Mall, a 836,000 square foot shopping mall with major tenants including Dillard’s, JCPenney, Ross Dress for Less, Floor & Decor, Barnes & Noble, and more. Furthermore, the site is located South of Denton Crossing, a 430,000 square foot power center anchored by T.J. Maxx, Kroger, Michaels, and HomeGoods. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, Big Lots!, ALDI, Target, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 157,600 with an affluent average household income of $100,685.