Morgan Zant

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, corporate guaranteed, Texas Roadhouse investment property located in Owasso, OK (Tulsa MSA). The tenant, Texas Roadhouse, Inc. (NASDAQ: TXRH), will be signing a brand new 15-year lease with 4 (5-year) options at the close of escrow, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. With over a 100% increase in stock price throughout the last 5 years, Texas Roadhouse continues to see immaculate growth as the chain was ranked one of the most popular restaurants during the COVID-19 pandemic. The building, which is slated to open in December 2023, will feature a state-of-the-art design using the highest-quality materials available. The Texas Roadhouse is located along U.S. Highway 169, which averages 50,600 vehicles passing by daily and is a major retail thoroughfare serving the city of Owasso. The property is located across U.S. Highway 169 from Smith Farm Marketplace, a 348,000 square foot shopping center that features national/credit tenants including Target, T.J. Maxx, HomeGoods, and Hobby Lobby. Furthermore, the asset is just south of Owasso Market, a 566,000 square foot power center with major tenants including a Walmart Supercenter, Lowe’s Home Improvement, and Kohl’s. In addition, Texas Roadhouse is less than a mile northeast of Mingo Valley Center, a 227,000 square foot Big Lots! and Reasor’s anchored center. The property is in the center of a primary retail corridor with other nearby national/credit tenants including The Home Depot, Sam’s Club, ALDI, Sprouts Farmers Market, Dollar General. Strong tenant synergy promotes crossover shopping to the site. The 5-mile trade area is supported by a population of over 68,800 residents with an affluent average household income of $107,448.

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Morgan Zant

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1 properties

Owasso

Properties for sale by listing agent Morgan Zant

$2,857,000

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