1005 W University Ave - Restaurant FOR SALE


Georgetown, TX 78628- Georgetown-Leander | 
$5,000,000 USD
847-664-9557
1005 W University Ave, Georgetown, TX for Sale
$5,000,000 USD
Restaurant - FOR SALE
1/4
null | 5.5% Cap Rate

1005 W University Ave
Georgetown, TX 78628
Georgetown-Leander


HIGHLIGHTS

  • New 10-year sale leaseback with 10% rental escalations every five years
  • Strong performer with low rent-to-sales ratio
  • Georgetown, Texas has ranked among the nation’s fastest-growing cities, with population up approximately 50% from 2020 to 2024, per U.S. Census Bureau
  • Immediate access to Interstate 35 (~124,000 VPD), one of the busiest corridors in the Austin–Round Rock–Georgetown MSA
  • Outparcel to Wolf Ranch Town Center, a 52-acre open-air center anchored by Target, T.J. Maxx, Old Navy, Ross, Five Below, Kohl’s, Ulta, and Best Buy
  • No state income tax in Texas

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant LongHorn Steakhouse sale-leaseback located in Georgetown, Texas within the Austin MSA. LongHorn Steakhouse has successfully operated at this location since 2012, establishing more than a decade of proven operating history at the site. The proposed lease will feature 10% rental escalations every ?ve years throughout the primary term and four 5-year renewal options. The absolute NNN structure leaves the landlord with zero property-level responsibilities. Additionally, the lease is with RARE Hospitality International, Inc., a wholly owned subsidiary of Darden Restaurants, Inc. (NYSE: DRI), which carries an investment-grade BBB credit rating from S&P. This is a rare opportunity to acquire a fee simple Darden restaurant concept, allowing the future landlord to take advantage of depreciation. The 6,217 square-foot property bene?ts from immediate access to Interstate 35 (~124,000 VPD), one of the busiest corridors in the Austin–Round Rock–Georgetown MSA. It is outparceled to Wolf Ranch Town Center, a 52-acre open-air center anchored by Target, T.J. Maxx, Old Navy, Ross, Five Below, Kohl’s, Ulta, and Best Buy, with additional national retailers nearby including H-E-B, Academy Sports + Outdoors, Floor & Decor, Tractor Supply, Hobby Lobby, ALDI, and Goodwill. The site is also near two Class A garden-style apartment communities, Avalon Wolf Ranch (303 units) and Bexley Wolf Ranch (332 units). More than 106,000 residents live within a ?ve-mile radius of the property, with average household income exceeding $152,000. Georgetown, Texas has ranked among the nation’s fastest-growing cities, with population up approximately 50% from 2020 to 2024, per U.S. Census Bureau estimates. Longhorn Steakhouse, founded in 1981 in Atlanta, GA, is a popular American restaurant chain renowned for its fresh, boldly seasoned steaks. Now headquartered in Orlando, FL, it operates more than 600 restaurants across 43 states. The chain is owned by Darden Restaurants, Inc. (NYSE: DRI), the world’s largest company-owned and operated full-service restaurant group. The chain is known for its hand-cut steaks grilled by trained grill masters, along with a menu that includes ribs, chicken, seafood, salads, and signature items such as the bone-in Outlaw Ribeye and Flo’s Filet. Today LongHorn ranks among the largest casual steakhouse chains in the United States and remains one of Darden’s strongest-performing brands.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$804 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

LongHorn Steakhouse

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2012

SPRINKLERS

-

PARKING SPACES

75

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

3-C-3

APN/PARCEL ID

R472213

ASK ABOUT THIS PROPERTY

John FeeneyThe Boulder GroupMore Info
847-664-9557

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John FeeneyThe Boulder GroupMore Info
847-664-9557

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.