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
1/8
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 ACSI reported LongHorn Steakhouse hit 80% in taste favorability, surpassing Texas Roadhouse and well ahead of Outback Steakhouse.
  • Same-restaurant sales grew 4% year-over-year at LongHorn Steakhouse in Q1 2024

OVERVIEW

Located just off of US-90, this LongHorn Steakhouse enjoys prime visibility and accessibility along Pace’s largest retail and motor traffic corridor, with direct exposure to over 33,000 vehicles per day. Its strategic positioning makes it a standout destination for both local and passing traffic. The restaurant is surrounded by top-tier national retailers such as Walmart, Lowe’s, Home Depot, Target, Publix, and more. This cluster of anchor tenants significantly enhances visibility, customer flow, and cross-shopping opportunities for the LongHorn location. Additionally, the site benefits from its proximity to two major military installations: Naval Air Station Pensacola and Eglin Air Force Base. Together, these bases bring over 43,000 active military personnel into the surrounding area, contributing to a stable and consistent consumer base. The local population surrounding the property is both dense and affluent. Nearly 70,000 residents live within a five-mile radius, with average household incomes exceeding $100,000. The area is also rich with high-traffic community hubs, including the University of West Florida (14,343 students), Pace High School (2,240 students), Pace Crossroads Shopping Center, the Alamo retired Naval Base, and Downtown Milton—just four miles away—bringing an additional 10,000 residents into the restaurant's catchment.

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 Steakhouse Ground Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding, Storefront, Storefront Retail/Office

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

HCD

APN/PARCEL ID

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

ASK ABOUT THIS PROPERTY

Michael YurasCushman & WakefieldMore Info
415-852-5177

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

Michael YurasCushman & WakefieldMore Info
415-852-5177

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