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Texas Roadhouse 4140 Miller Rd 7,379 SF Retail Building Flint, MI 48507 $2,391,211 CAD ($324.06 CAD/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- 10 Years Remaining | Scheduled Rental Increases | Established Brand
- Dense Retail Corridor | Genesee Valley Center (1,300,000 SF+) | Bishop International Airport
- Strong Demographics in 5-Mile Trade Area
- Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
- Located Along Miller Rd (29,600 VPD) | Interstate 69 & Interstate 75 (135,800 VPD) | Excellent Visibility
EXECUTIVE SUMMARY
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 Flint, Michigan. The tenant, Texas Roadhouse, recently exercised a 5-year option early making the current lease term 10 years remaining 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. Texas Roadhouse operates over 740 restaurants system-wide in 49 states.
(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. Texas Roadhouse operates over 740 restaurants system-wide in 49 states.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
7,379 SF
Building Class
B
Year Built
2015
Price
$2,391,211 CAD
Price Per SF
$324.06 CAD
Cap Rate
6%
NOI
$143,570 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
2.82 AC
Opportunity Zone
Yes
Zoning
GC - General Commercial
Parking
165 Spaces (22.36 Spaces per 1,000 SF Leased)
Frontage
249’ on Miller Rd
AMENITIES
- Freeway Visibility
- Restaurant
- Signage
- Monument Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 07-28-200-017 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,056,146 CAD |
PROPERTY TAXES
Parcel Number
07-28-200-017
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,056,146 CAD
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Texas Roadhouse | 4140 Miller Rd
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