6025 Pinnacle Pky - Restaurant FOR SALE


Covington, LA 70433
$2,250,000 USD
813-683-5115
6025 Pinnacle Pky, Covington, LA for Sale
$2,250,000 USD
Restaurant - FOR SALE
1/10
null | 5.19% Cap Rate

6025 Pinnacle Pky
Covington, LA 70433


HIGHLIGHTS

  • 10 Years Remaining | Scheduled Rental Increases | Established Brand
  • Absolute NNN | Leased Fee Ownership | Ground Lease | Zero Landlord Responsibilities
  • Outparcel to Nord Du Lac (215,000+ SF) | Dense Retail Corridor | Anchored by New Traffic Drivers (Costco + Floor & Decor)
  • Sustained Population Growth | Six-Figure AHHI
  • Signalized, Hard Corner Intersection | Interstate 12 | Excellent Visibility & Access

OVERVIEW

• The tenant currently has 10 years remaining on their initial lease with 2 (5-year) options to extend, demonstrating their commitment to the site • The lease features a 5% increase in Nov. of 2030 and 10% increases at the beginning of each option, growing NOI and hedging against inflation • Texas Roadhouse, Inc. is a growing restaurant company operating predominantly in the casual dining segment that first opened in 1993 and today has grown to over 800 restaurants system-wide in 49 states

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$322 USD /SF

CAP RATE

5.19%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Texas Roadhouse - Covington LA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

112

LAND DETAILS

LAND ACRES

1.46 AC

LAND SF

63,598 SF

ZONING

General Commercial

APN/PARCEL ID

11062

ASK ABOUT THIS PROPERTY

Jarrett SlearSRS Real Estate PartnersMore Info
813-683-5115

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Jarrett SlearSRS Real Estate PartnersMore Info
813-683-5115

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