Listed by JLL Chicago | Americas Headquarters
$2,410,000
Longhorn Steakhouse - Sheboygan, WI
Details
Property Type Retail
Sub Type Restaurant
Square Footage 5,780
Net Rentable (SqFt) 5,780
Cap Rate 5.6%
NOI $135,000
Tenancy Single
Brand/Tenant Longhorn Steakhouse
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 03/31/2036
Remaining Term 9.7
Rent Bumps Yes
Lease Options 4 x 5 Years
Year Built 2026
Acreage 2.173
Investment Type Net Lease
Ground Lease Yes
Longhorn Steakhouse | 5.60% Cap Rate | Ground Lease
Marketing description
Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the single-tenant LongHorn Steakhouse in Sheboygan, Wisconsin ("Property" or "Asset"). The Property is operating on an absolute NNN ground lease with ±9.7 years of primary lease term remaining, 10% rent escalations every 5 years, and four five-year renewal options.
WI Broker of Record: Jaime Fink: WI License #: 54163-90
Investment highlights
- Absolute NNN ground lease with ±9.7 years of primary lease term remaining
- Adjacent to 99-acre North Town Mixed Use Development w/ 600+ residential units
- 5 of the state’s finest golf courses sit within a 20-mile radius, including Whistling Straits & Blackwolf Run
- 32% population growth since 2010 within 1-mile radius, with $125K in AHHI
- Anchored by Kohler Co., one of America’s oldest and largest privately held companies with 30,000+ employees
- Interstate frontage off the I-43 /WIS-42 interchange with 46,000+ VPD
- Adjacent to new construction Home2 Suites and Hampton Inn with 184 rooms
- The adjacent Olive Garden's strong performance in this trade area drove Darden's decision to make a second investment here with LongHorn, pairing the portfolio's two largest concepts on one corridor
Listing Contacts
Listed by JLL Chicago | Americas Headquarters
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$135,000.00
$11,250.00/mo
Valuation Metrics
0
DSCR
5.6%
Cap Rate
5.6%
ROI
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