New Texas Roadhouse Investment
2920 Oakland Ave, Indiana, PA 15701
Newly built Texas Roadhouse with a corporate guarantee.
Type:Retail
Property size:
7,926 SFPrice / SF:
$344/SF- Added:
- Oct 23, 2024
- Days on Market:
- 588
- Last Refresh:
- May 12 at 8:44 pm
Property Features for 2920 Oakland Ave
General Information
- Standard status
- Active
- Size
- 7,926 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2024
Listing agent Andrew Fallon License #VA 0225193951
Listing office SRS Real Estate Partners McLean
Listing date Oct 23, 2024
Source Crexi
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
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.
- 10% rental increases every 5 years throughout the initial term and option periods.
- Located in a dense retail corridor with high traffic counts.
- Strong demographics with over 32,800 residents and 22,200 daytime employees within a 5‑mile radius.
Overview
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.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $253.9k | $32.04 |
| − Vacancy | −$26.4k | −$3.33 |
| EGI | $227.5k | $28.71 |
| − OpEx | −$56.9k | −$7.18 |
| NOI | $170.7k | $21.53 |
7,926 SF · lease $32.04/SF/yr · vacancy 10.40% · expense 25.00%
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 local authorities.
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar Places Nearby
- King Buffet — 2401 Oakland Ave, Indiana, PA 15701
Location Insight
- Map
- Local Demand
- City
- Indiana
- County
- Indiana
- State
- Pennsylvania
- Longitude
- -79.189284
- Latitude
- 40.602204
Nearby Similar for Sale
FAQs
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.
