2583 Pine Grove Rd - Restaurant FOR SALE


Ringgold, GA 30736
$4,500,000 USD
202-286-1542
2583 Pine Grove Rd, Ringgold, GA for Sale
$4,500,000 USD
Restaurant - FOR SALE
1/6
null | 5% Cap Rate

2583 Pine Grove Rd
Ringgold, GA 30736


HIGHLIGHTS

  • Brand New 10-Year Lease | Scheduled Rental Increases | New Construction | Established Brand
  • Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
  • Dense Retail Corridor | Strong National/Credit Tenant Presence | CHI Memorial Hospital
  • Signalized, Hard Corner Intersection | Interstate 75 |Excellent Visibility & Access
  • Strong Demographics in 5-mile Trade Area | Six-Figure Incomes

OVERVIEW

• The tenant just recently signed a brand new 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site • The lease features 10% rental increases every 5 years and at the beginning of each option, growing NOI and hedging against inflation • Headquartered in Orlando, LongHorn has more than 622 restaurants across 44 states and is a division of Darden Restaurants, Inc., (NYSE: DRI), which owns and operates more than 2,100 restaurants

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$789 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Longhorn Steakhouse - Ringgold GA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2026

SPRINKLERS

-

PARKING SPACES

143

LAND DETAILS

LAND ACRES

1.91 AC

LAND SF

83,200 SF

ZONING

C2

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

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Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

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