1918 Veterans Blvd Del Rio, TX 78840-3328

Property Details for 1918 Veterans Blvd

Year built

1970

Lot size

2.10 lot acres

Property size

83,826 SF

Property type

Commercial real estate

APN

21348

APU

21348

Description

This exceptional investment opportunity presents a fee-simple ownership of a Texas Roadhouse restaurant in Del Rio, Texas. The property, located at 1918 Veterans Blvd, boasts a prime 2.1-acre corner lot, benefiting from nearly 30,000 vehicles passing daily. The 7,926 square foot building, constructed in 2023, is currently operating under a 15-year net lease with a credit-rated tenant, Texas Roadhouse, with 13.8 years remaining. The lease commenced August 28, 2023, and expires August 30, 2038. Rent increases of 10% are built into the lease every five years, providing significant long-term growth potential. The property also includes three, five-year lease options, each with a 10% rent increase. The current asking price is $2,571,430, representing a price per square foot of $324.43 and a 5.25% cap rate based on a current net operating income (NOI) of $135,000. This is a single-tenant, 100% occupied property with a strong financial history. Texas Roadhouse's impressive financial performance, including a nearly 14% sales jump in FY 2023, totaling $4.78 billion, further underscores the investment's stability and growth potential. The ground lease structure adds another layer of security and long-term value. This is a rare opportunity to acquire a high-performing, well-located restaurant property with a strong tenant and significant upside.

Location Insight

City

Del Rio

County

Val Verde

State

Texas

Longitude

-100.906

Latitude

29.3834

CBSA code

19620

CBSA name

DEL RIO, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments