Listed by JLL Chicago | Americas Headquarters, JLL - Irvine (Orange County), California, JLL - Dallas | Cedar Springs, Texas, JLL Miami | Brickell Avenue
$3,125,000
Longhorn Steakhouse | Lenoir, NC
Details
Property Type Retail
Sub Type Restaurant
Square Footage 4,979
Cap Rate 5.60%
NOI $175,000
Occupancy 100%
Tenancy Single
Brand/Tenant Longhorn Steakhouse
Lease Type Absolute NNN
Lease Expiration 11/30/2040
Remaining Term 14.4
Rent Bumps Yes
Lease Options Four (4) x 5-year options
Year Built 2008
Acreage 1.100
Investment Type Net Lease
Ground Lease Yes
Retail | 5.60% CAP | 4,979 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the LongHorn Steakhouse ("LongHorn") 975 Blowing Rock Blvd, Lenoir, NC 28645 ("Property" or "Asset"). LongHorn is operating on an absolute NNN ground lease with zero landlord responsibilities and ±14.6 years of lease term remaining.
This unique opportunity allows investors the ability to acquire a passive income stream from a nationally recognized casual-dining operator with high value intrinsic real estate.
Investment highlights
- ±14.6 Years of lease term remaining
- #34 largest restaurant chain in America with $3.0B in 2025 sales
- Owned by Darden Restaurants, a leader in the full-service dining industry
- Absolute NNN Ground Lease Zero landlord responsibilities
- Outparcel to a Walmart Supercenter, a top 15% supercenter in NC
- 10% Rent increase every five years
- $4.9M LongHorn Steakhouse average unit volume
- Strong retail corridor with 2.3M SF within a three-mile radius
- 28% Daytime population increase
- Off Blowing Rock Blvd (NC 84), connector to US 64 with visibility to 46,500 VPD
Listing Contacts
Listed by JLL Chicago | Americas Headquarters, JLL - Irvine (Orange County), California, JLL - Dallas | Cedar Springs, Texas, JLL Miami | Brickell Avenue
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$175,000.00
$14,583.33/mo
Valuation Metrics
0
DSCR
5.6%
Cap Rate
5.6%
ROI
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