4758 Highway 90 - Restaurant FOR SALE


Pace, FL 32571
$3,000,000 USD
415-852-5177
4758 Highway 90, Pace, FL for Sale
$3,000,000 USD
Restaurant - FOR SALE
1/1
null | 5% Cap Rate

4758 Highway 90
Pace, FL 32571


HIGHLIGHTS

  • New 10-year absolute NNN ground lease to Longhorn Steakhouse, one of the largest steakhouse chains in the U.S.
  • 10% rental increases every five (5) years in initial term and option periods, offering projected growth over a long-term investment
  • In March 2024, the American Customer Satisfaction Index (ACSI) shows LongHorn Steakhouse reached the 80% mark in “net favorability toward taste”
  • Same-restaurant sales grew 4% year-over-year at LongHorn Steakhouse in Q1 2024

OVERVIEW

Located just off of US-90, this LongHorn Steakhouse location is ideally situated along the largest retail and motor traffic artery in Pace. The site has direct access to over 33,000 vehicles daily directly in front of the site. Surrounded by other top-tier national tenants such as Walmart, Lowe’s, Home Depot, Target, Publix and many others provide this LongHorn Steakhouse location with greatly increased visibility. Positioned in between both Naval Air Station Pensacola and Eglin Air Force Base, this site gains access to over 23,000 military personnel from the naval Air station and an additional 20,000 servicemen from Eglin Air Force Base. The property benefits immensely from a densely populated and affluent local population, with the average household income exceeding $100,000 for the nearly 70,000 people who live within a five-mile radius of the site. Many community hubs and high-traffic centers surround Caliber such as University of West Florida (14,343 students), Pace High School (2,240 students), Pace Crossroads Shopping Center, The Alamo retired Naval Base, and many others. Downtown Milton, FL is situated only four miles from the Caliber Collision site and provides the property with access to more than 10,000 additional residents.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$500 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Longhorn

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

125

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

-

APN/PARCEL ID

11-1N-29-0000-02300-0000

ASK ABOUT THIS PROPERTY

Michael YurasCushman & WakefieldMore Info
415-852-5177

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Michael YurasCushman & WakefieldMore Info
415-852-5177

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