9695 Liberia Ave
Manassas, VA 20110
Commerce de détail Propriété À vendre

High Credit Ground Lease with Established Tenant – The Tenant, Rare Hospitality International, Inc., owned by Darden Restaurants and doing business as LongHorn Steakhouse, is subject to a long-term Ground Lease that commenced in 2008 and has nearly 8 years of remaining term. In 2023, the tenant elected to exercise their second renewal option, extending the lease term to ten years rather than five contemplated in the lease. As a concession, rent remained flat during years 1-5 of the option period, with increases scheduled to begin in 2028, year 6 of the option period. With two options remaining, the tenant has demonstrated a strong commitment to this location through its consistent renewal history. The property consists of 0.78 acres and benefits from cross-parking with the neighboring Evergreen Terrace Shopping Center along high-traffic Liberia Avenue in Manassas, Virginia. The building contains 5,600 square-feet.
Rare Washington D.C. MSA Low-Rent Opportunity – LongHorn Steakhouse is currently paying rent of $168,059 through 2028, equating to $30 per square foot. This rental rate is considerably lower than most restaurants along the Liberia Avenue retail corridor. Neighboring brands including Qdoba, Starbucks, and Wendy’s are paying between $50-$63 per square foot, while the immediately adjacent Patient First is paying $33.92 per square foot. This low rental rate provides an opportunity for LongHorn Steakhouse to operate through its term and options in an excellent market at a considerable discount. To the landlord’s benefit, Longhorn has only two options remaining, each with a 10% increase. Unlikely many other properties in the market, this structure is highly favorable to the landlord.
Positioned at the heart of a growing Northern Virginia Retail Corridor - Situated on Liberia Avenue, LongHorn sits at the center of a dense, retail corridor featuring a high volume of national tenants. On each end of the corridor sits a Walmart that records 2.4 million annual visits and Harris Teeter which adds another 785.7K visits annually. Just across from the subject property is another grocery store, Aldi, which reports 354K visits annually. The corridor also features desired national tenants, Wawa, Chick-Fil-A, Wendy’s, Chipotle, Starbucks, Raising Canes, among others. The strong commercial and retail demand in this location lead to the development and opening of Evergreen Village Shopping Center immediately south. Consisting of more than 110,000 SF of retail space with key names such as Lidl, Texas Roadhouse, Jersey Mike’s, and Cold Stone Creamery, the project also includes over 240 apartment units. The retail corridor is supported by a population of 88,230 with an average household income of $152,001.
Premier Full-Service Dining Company – Darden Restaurants is a premier full-service dining company trading as NYSE: DRI. The company operates some of the most recognizable and successful brands in full-service dining, such as Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s. The company, headquartered in Orlando, FL, boasts a “BBB” credit rating by S&P and owns and operates more than 2,100 restaurants across the United States. It serves more than 440 million guests annually. Darden Restaurants, Inc. recorded net income of $1.05 Billion and revenue of $12.1 billion in Fiscal Year 2025.