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33993520
33993508

187 Watauga Village Drive, Boone, NC 28607

RF
NC 280948
Berkeley Capital Advisors Charlotte
CB
NC 287166
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte
$3,434,000
4 days on market
Updated 4 days ago

LongHorn Steakhouse Ground Lease

Details
Property Type Retail
Sub Type Restaurant
Square Footage 5,780
Cap Rate 4.95%
NOI $169,992
Occupancy 100%
Tenancy Single
Brand/Tenant Outback Steakhouse, Longhorn Steakhouse (+1)
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 04/30/2036
Remaining Term 10
Rent Bumps Yes
Lease Options Four, 5-Year
Price per SqFt $594
Broker Co-Op True
Year Built 2026
Acreage 0.460
Zoning Commercial
Parking Spaces 25 spaces
Parking per 1,000 SqFt 4.33
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/20/2026
Ground Lease Yes

New 2026 Construction | Absolute Net Ground Lease | Outparcel To High Performing Walmart Supercenter

Investment highlights

• New 2026 construction

• Absolute net ground lease | Zero landlord responsibilities

• Desirable lease term | New 10-year term

• Corporate Lease | Rare Hospitality International, Inc. | 629 locations

• Located in the center of Boone’s retail corridor | Generates 17.2M visitors annually

• Outparcel to high performing Walmart Supercenter that ranks in the 96th percentile in NC

• Located inside of dense retail corridor | 2.6M SF within a 2-mile radius

• Stable population growth within 3-miles | 13.78% from 2010-2025

• Across the street from Watauga Medical Center | 117 beds

• 5 minutes from Appalachian State University | 21,800 students

• 10 minutes from Watauga High School | 1,280 students

• 1-mile from Boone Mall | 223K SF dominant retail center generating heavy foot traffic

• Nearby destination retailers | Walmart Supercenter, Publix, Food Lion, Harris Teeter, Lowe’s, Applebee’s, Cracker Barrel, Chili’s, Chick-fil-A, McDonald’s, Taco Bell, Chipotle, Wendy’s, Arby’s, Five Guys, 7 Brew Coffee, Cookout, Bojangles, Take 5 Oil Change, and more

Listing Contacts

RF
NC 280948
Berkeley Capital Advisors Charlotte
CB
NC 287166
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$169,992.00
$14,166.00/mo

Valuation Metrics

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DSCR
4.95%
Cap Rate
4.95%
ROI

Map

Zoning

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B3 CommercialGeneral CommercialGeneral Business District
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View all 199 uses
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Last updated Feb 11, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Tax History

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