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|Current / Passing Rent||
|Remaining Term||12 years, 7 months|
|Tenant||TEXAS ROADHOUSE, Incorporated|
JLL is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single-tenant property corporately leased to Texas Roadhouse in Steubenville, Ohio. The property is conveniently situated off Route 43/ Sunset Boulevard, a main thoroughfare in the region that boasts more than 24,150 VPD.
The tenant has been operating at this location since 2013 and recently executed a long-term, 10-year lease extension, showing commitment to this location. There are now 13 years remaining on the NNN ground lease with attractive, 5% rental increases throughout the remainder of the primary term. These 5% rental increases will also continue in the two, 5 year option periods that remain.
- Amid COVID, tenant has reported 2020 sales (January - July) of $2.36 million, showing signs of strong profitability and performance amid a pandemic that is hurting like-kind competitors
- Operating at this location since 2013 and recently signed a 10-year lease extension
- Attractive 5% rental increases throughout the primary term and option periods, showing a true commitment to the location
- Location benefits from a population of 41,000+ within a 5-mile radius and an average household income of $61,500
- According to Placer.ai technology, this Texas Roadhouse ranks 2nd out of 47 dining venues within a 15-mile region in terms of the number of visits