New Texas Roadhouse Investment
For Sale
Contact for pricing
2920 Oakland Ave, Indiana, PA 15701
Newly built Texas Roadhouse with a corporate guarantee.
Property Size7,926 SF
Price / SF$344.09
Days on Market679
Property Features for 2920 Oakland Ave
General Information
Standard status
Active
Size
7,926 SF
Total Parking Spaces
189
Property subtype
Retail
Zoning
C-1 - Retail Business and Commercial
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$150,000
Building Details
Year Built
2024
Tenancy
Single
Listing Agency:
SRS Real Estate Partners McLean
(202) 286-1542
Listed By:
Andrew Fallon · License #PA RSR006585
Source:
Crexi
Added: Oct 23, 2024
Changed: Aug 27
Last Checked: Aug 31 at 8:02PM
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 SRS Real Estate Partners McLean
Investment Insights
Based on property information with market context.
This newly built Texas Roadhouse investment property is located in Indiana, PA. The tenant, Texas Roadhouse, Inc., will sign a new 15-year lease with 4 (5-year) options. The lease features 10% rental increases every 5 years throughout the initial term and option periods. The lease is corporate guaranteed. The building, which will open on November 11th, 2024, will feature a state-of-the-art design using high quality materials. The property is located along Oakland Ave, which averages 14,000 vehicles passing by daily, and has visibility and access to U.S. Highway 422 (12,000 VPD). The property is situated within a retail corridor with nearby national tenants including Walmart Supercenter, Lowe’s Home Improvement, Kohl’s, ALDI, and Giant Eagle. Texas Roadhouse is located near shopping centers including Southtown Plaza (272,000 SF), Indiana Mall (457,000 SF), and Town Fair Plaza (230,000 SF). The property is near single-family communities and multi-family complexes including Traverse Commons (224 units), The Commons on Pratt (134 units), and Orchard Hill Apartments (156 units). The 5-mile trade area is supported by over 32,800 residents and 22,200 daytime employees. Residents within 5 miles of the site have an average household income of $83,012. The property size is 7,926 square feet.
Key Highlights
- Absolute NNN lease provides a management‑free investment.
- Corporate guaranteed lease by Texas Roadhouse, Inc. (NASDAQ: TXRH).
- New 15‑year lease** with 4 (5‑year) options.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$170,654
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,413,080
$3.4M
Cap Rate 7%
$2,437,914
$2.4M
Cap Rate 9%
$1,896,156
$1.9M
Market Conditions
NOI Build-Up for 7,926 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$253.9K $32.04/SF
− Vacancy
−$26.4K −$3.33/SF
EGI
$227.5K $28.71/SF
− OpEx
−$56.9K −$7.18/SF
NOI
$170.7K $21.53/SF
Area
Indiana County, PA
Vacancy
10.40%
Lease Rate
$32.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,413,080
Cap Rate 7%
$2,437,914
Cap Rate 9%
$1,896,156
Alternative Uses
Best Use
Specialty Retail
$2.44M
$2.13M – $2.84M
NOI $170,654 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,767 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
265k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 40%
Dining 20%
Shops & Services 15%
Groceries 15%
Walmart
Superstores
105,537 visits/mo
0.3 miles
Aldi
Groceries
39,752 visits/mo
0.1 miles
McDonald's
Dining
30,176 visits/mo
0.3 miles
GetGo Gas Station
Shops & Services
19,933 visits/mo
0.2 miles
Eat'n Park
Dining
16,295 visits/mo
0.2 miles
Demographics for 15701, PA
30,269
Population
15,695
Households
1.9
Avg Household Size
40
Median Age
41%
College-Educated
95%
High-School Grad
112.2 sq mi
ZIP Area
270
Density / Sq Mi
$56,538
Median Household Income
$30,760
Median Earnings
$799
Median Rent
$175,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- King Buffet — 2401 Oakland Ave, Indiana, PA 15701
- Grand Buffet — 475 Ben Franklin Rd S Bld 70, Indiana, PA 15701
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Newly built Texas Roadhouse with a corporate guarantee.
Where is this conventional restaurant located?
The property is located at 2920 Oakland Ave Indiana, PA.
What is the asking price?
The asking price for this property is $2,727,273.
What are key features of this property?
This property features: Absolute NNN lease provides a management‑free investment.; Corporate guaranteed lease by Texas Roadhouse, Inc. (NASDAQ: TXRH).; New 15‑year lease** with 4 (5‑year) options.
