5877 State Rte 100 East - Restaurant FOR SALE
Palm Coast, FL 32164 |
5877 State Rte 100 East
Palm Coast, FL 32164
HIGHLIGHTS
- Investment-grade credit tenant with long-term lease (Darden, S&P: BBB)
- LongHorn is Darden’s 2nd largest revenue source contributing 25% of the $10.5 billion in total sales for 2023
- Attractive 10% rent increases every 5 years
- Absolute NNN ground lease – No landlord management obligations
- Part of the new Cornerstone at Seminole Woods shopping center anchored by BJ’s Wholesale Club and home to Chick-fil-A, Chase Bank and Miller’s Ale
- NO STATE INCOME TAX, Florida is the Highest Net Domestic Migration/Growth State in the U.S.
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
LongHorn Steakhouse (Darden)
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Restaurant
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
5780
STORIES
1
YEAR BUILT
2025
SPRINKLERS
-
PARKING SPACES
116
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
08-12-31-0650-000B0-0074
