Single-Tenant Freestanding
For Sale
Contact for pricing
2156 S Sterling St, Morganton, NC 28655
Freestanding LongHorn Steakhouse on an absolute triple-net lease through July 2030, with scheduled rent escalations.
Property SizeContact for details
Days on Market121
Property Features for 2156 S Sterling St
General Information
Standard status
Active
Property subtype
Retail
Occupancy
100%
Site & Location
Traffic Count
66,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Pegasus Investments
(310) 969-1135
Listed By:
David Chasin · License #CA 01513027
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 20 at 10:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pegasus Investments
Investment Insights
Based on property information with market context.
A single-tenant freestanding restaurant leased by LongHorn Steakhouse on an absolute triple net (NNN) basis. The lease term extends through July 2030 and includes a 10% rent escalation in July 2025. LongHorn also has four additional 5-year options, each with 10% rent escalations upon execution. The property is offered as a LongHorn-operated location connected to the brand’s newer restaurant prototype development.
The site is situated in Morganton’s hospitality and medical corridor on S Sterling Street. It is accessible directly off Interstate 40 at Exit 105, at the intersection of South Sterling Street and I-40, where combined traffic counts are roughly 66,000 vehicles per day. A repositioning completed in 2020 included creation of a new signalized intersection and road, with Albert Tron Boulevard running beside the LongHorn restaurant and connecting to West Parker Road.
Nearby demand drivers include Broughton Hospital on South Sterling Street adjacent to the property and Atrium Health directly across the street. The medical campus presence has included major expansion work by Broughton in 2019.
The site is situated in Morganton’s hospitality and medical corridor on S Sterling Street. It is accessible directly off Interstate 40 at Exit 105, at the intersection of South Sterling Street and I-40, where combined traffic counts are roughly 66,000 vehicles per day. A repositioning completed in 2020 included creation of a new signalized intersection and road, with Albert Tron Boulevard running beside the LongHorn restaurant and connecting to West Parker Road.
Nearby demand drivers include Broughton Hospital on South Sterling Street adjacent to the property and Atrium Health directly across the street. The medical campus presence has included major expansion work by Broughton in 2019.
Key Highlights
- Single‑tenant, freestanding LongHorn Steakhouse leased on an absolute triple net (NNN) basis.
- Lease term extends through July 2030 with a 10% rent escalation in July 2025.
- LongHorn has four (4) additional 5‑year lease options, each with a 10% rent escalation upon execution.
Property Analytics
Current Use
Lease Details
66,000 VPD
Traffic count
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
86k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 40%
Electronics 4%
Beauty & Spa 2%
Burger King
Dining
19,232 visits/mo
0.4 miles
Roses Discount Store
Shops & Services
16,114 visits/mo
0.4 miles
Wells Fargo
Shops & Services
9,693 visits/mo
0.4 miles
Little Caesars Pizza
Dining
6,904 visits/mo
0.3 miles
Dollar General
Shops & Services
6,888 visits/mo
0.3 miles
Demographics for 28655, NC
55,328
Population
24,542
Households
2.3
Avg Household Size
43
Median Age
21%
College-Educated
84%
High-School Grad
325.0 sq mi
ZIP Area
170
Density / Sq Mi
$53,464
Median Household Income
$34,191
Median Earnings
$827
Median Rent
$170,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding LongHorn Steakhouse on an absolute triple-net lease through July 2030, with scheduled rent escalations.
Where is this conventional restaurant located?
The property is located at 2156 S Sterling St Morganton, NC.
What are key features of this property?
This property features: Single‑tenant, freestanding LongHorn Steakhouse leased on an absolute triple net (NNN) basis.; Lease term extends through July 2030 with a 10% rent escalation in July 2025.; LongHorn has four (4) additional 5‑year lease options, each with a 10% rent escalation upon execution.
