Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

917 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

LongHorn Steakhouse | 10+yrs Remain Abs NNN 110 Bluebird Ln 5,627 SF Retail Building Millville, NJ 08332 $5,495,693 CAD ($976.66 CAD/SF) 5.25% Cap Rate

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

INVESTMENT HIGHLIGHTS

10+ Years Remaining | Options To Extend | Annual 1% Rental Increases | Strong Sales | Corporate Guaranty (NYSE: DRI | S&P: BBB)
Strong Frontage On State Hwy 47 (31,500 VPD) | Near Veterans Memorial Highway (24,800 VPD)
Strong Demographics In 5-Mile Trade Area

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Prime Retail Node | Outparcel to Lowe’s-Anchored Center | Adjacent to Cumberland Crossing

EXECUTIVE SUMMARY

SRS Real Estate Partners-Northeast, LLC is pleased to present the opportunity to acquire the fee simple interest in an absolute NNN-leased Longhorn Steakhouse located in Millville, New Jersey. There are over 10 years of primary term remaining with four (4) additional five-year renewal options, promoting stable long-term income. The lease includes 1% annual rental increases throughout the initial term and option periods, delivering steady NOI growth and a built-in hedge against inflation. The location reports strong sales with consistent YOY sales growth (contact agent for details). The lease is guaranteed by Darden Restaurants, Inc. (NYSE: DRI), one of the largest restaurant operators in the U.S. with over 2,100 locations nationwide and an investment-grade credit rating (S&P: BBB).

Millville NJ - Longhorn Steakhouse

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Restaurant

Building Size

5,627 SF

Building Class

Year Built

2006

Price

$5,495,693 CAD

Price Per SF

$976.66 CAD

Cap Rate

5.25%

NOI

$288,499 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.07

Lot Size

1.97 AC

Zoning

RC - Regional Commercial (RC)

Parking

123 Spaces (21.86 Spaces per 1,000 SF Leased)

Frontage

300’ on Bluebird Ln

Corner Lot
Restaurant

Signage
Signalized Intersection

Monument Signage

Air Conditioning

Accommodation and Food Services
99,999 SF
$9.99
Lorem Ipsum
Jan 0000

Born of fire, tested by ice, confirmed by legions of loyal guests each day, LongHorn Steakhouse® has grown to become the undisputed home for great steak done right. Founded in 1981 in Atlanta, Georgia, the restaurant began with one man's passion for perfect steak but had very few guests to convince. Then a freak snowstorm hit Atlanta in 1982, stranding motorists and drawing them to one of the only hospitable places available - a restaurant then called LongHorn Steaks Restaurant & Saloon. Tales of expertly grilled steaks soon spread like wildfire, and the legend of LongHorn was born. By 1990, the restaurant had spread throughout the East, Midwest and Southwest United States and Puerto Rico. In 2007, the restaurant, now called LongHorn Steakhouse, was purchased by Darden Restaurants, Inc.