For Sale
$3,429,000

245 Rasberry RdCrestview, FL 32536

Florida Restaurant Investment. High ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents the chance to acquire the leased fee interest (land ownership) in a brand-new, 7,831 square foot Texas Roadhouse restaurant in Crestview, Florida. The property boasts a 15-year absolute NNN lease with four 5-year options, providing long-term stability and predictable income. The lease includes 10% rental increases every five years, effectively hedging against inflation. This corporate-guaranteed lease (NASDAQ: TXRH) offers a management-free investment with zero landlord responsibilities. Located on 2.37 acres with 166 parking spaces, the restaurant benefits from a prime location along Rasberry Road, offering excellent visibility and convenient access to major routes, including Interstate 10 and S. Ferdon Boulevard. The property sits within a thriving retail corridor, directly across from three major shopping centers and surrounded by national retailers such as Walmart, Lowe's, Publix, and Walgreens. The strong tenant synergy and proximity to numerous residential communities, including Hillcrest Villas, Katie Manor, and Riverwood Apartment Homes, ensure a robust customer base. The 2024-built restaurant is zoned C-2 (Commercial High-Intensity District) and features a state-of-the-art design. The property's strong demographics, including a high average household income within a 1-mile radius, further enhance its investment appeal. With a current NOI of $180,000 and a 5.25% cap rate, this offering presents a compelling return on investment. The asking price is $3,429,000.

Highlights

  • $3,429,000 asking price for a 7,831 SF Texas Roadhouse in Crestview, FL.
  • Absolute NNN lease, corporate guaranteed by Texas Roadhouse (NASDAQ: TXRH).
  • 15-year lease with four 5-year options; 10% rent increases every 5 years.
  • 5.25% cap rate, $180,000 NOI, 100% occupancy.
  • Located on 2.37 acres with 166 parking spaces, in a high-traffic retail corridor near major shopping centers and residential areas.

Property Details for 245 Rasberry Rd

Property type
Retail properties, Restaurants
Square Feet
7,831 SF
Year Built
2024
Lot Size (sq. ft)
103,237 SF

Location Insight

City
Crestview
County
Okaloosa
State
Florida
Latitude
30.727407
Longitude
-86.5702952
245 Rasberry Rd, Crestview, Florida

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245 Rasberry Rd
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