Caractéristiques de l'actif

Surface de l'actif Net

627 m²

Année de construction

2001

Taille du terrain Brut

0,39 hectare

Durée restante du bail

4.8 ans

Taux de capitalisation

5,85 %

Prix attendu

2 816 000 €

Description

Jones Lang LaSalle Americas, Inc.(“JLL”) is pleased to offer the opportunity to acquire the ownership interest in a 6,750 square foot freestanding, single-tenant corporate Texas Roadhouse located at 7341 Northcliff Ave in Brooklyn, OH (“Property” or “Asset”).

The Asset is 100% leased to Texas Roadhouse Holdings, LLC. (the “Tenant”). Texas Roadhouse is one of the largest casual dining restaurant chains in the United States with more than 816 locations across the country and across select international markets.. The Tenant is operating on an absolute NNN ground lease with 4.8 years remaining, a 10% rent escalation at the start of the fourth renewal period, zero landlord responsibilities, and percentage rent (1% of Gross Sales over a $3M breakpoint).

Brooklyn, Ohio is located in Cuyahoga County, the second largest county in Ohio, which is known for its diverse economy and educational institutions. Due to the area’s strong road networks, nearby access to Cleveland Hopkins International Airport (6 miles) and the Port of Cleveland, the area’s history is rich in manufacturing which has supported a recent boom in healthcare, biomedical and financial sectors. The Cleveland retail market and submarkets have demonstrated strong fundamentals, with retail availability under 2% in the city of Brooklyn.

Most notably, the Property is located as an outparcel to Ride Park Square Shopping Center, a 386,754 SF center with 46 tenants. Ridge Park Square is a regionally dominant shopping destination, generating over 6.9 million visits annually and ranking as the 2nd most visited shopping center in the state of Ohio. Additionally, the Property possesses frontage along Northcliff Avenue with direct visibility to more than 33,350+ vehicles per day and benefits from the Interstate 480 interchange (150,000+ VPD), that feeds directly to Ridge Road and the many points of ingress and egress for Ridge Park Square.

This unique opportunity allows investors to acquire a premier outparcel to a top-performing retail center in the Cleveland MSA. The offering highlights a Texas Roadhouse ground lease with zero landlord responsibilities.

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Points clés d'investissement

Major Casual Dining Brand: International chain with 816+ locations generating $5.8B+ in annual revenue.
Absolute NNN Ground Lease: Zero landlord responsibilities.
Established Location: 25+ year occupancy history demonstrating strong unit performance and site viability since 2001.
Prime Retail Location: Situated as an outparcel to the Ridge Park Square shopping center, which attracts 6.9 million visitors annually.
Excellent Highway Access & Visibility: The property is adjacent to Exit 15 of Interstate 480, with high traffic counts of over 149,000 vehicles per day.
Dense Residential Population: The surrounding area features a dense population of 331,165 people within a five-mile radius.
Proximity to Major Travel Hub: The property is located near Cleveland Hopkins International Airport (11M annual flyers).
High-Traffic Shopping Destination: Benefits from being part of Ridge Park Square, a major retail hub anchored by tenants like TJ-Maxx, Grocery Outlet, and Michaels.