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Texas Roadhouse, Citrus Heights, CA

Texas Roadhouse

CA, United States

Price $5,200,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases 5% Rental Increases Every 5 Years in Initial Term
Year Built 2015
Building Size 9,000 SF
Lot Size 0.98 Acres (42,558 SF)
Status Sold
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

15-YEAR ABSOLUTE NNN LEASE TO NOTABLE NATIONAL TENANT
» 15-year lease with 5% rental increases every five years in initial term
» Absolute NNN lease requires no landlord management
» Texas Roadhouse has annual revenues of $1.8 billion and operates over 450 locations nationwide
HIGH-TRAFFIC LOCATION AT ONE OF THE SACRAMENTO METRO’S BUSIEST INTERSECTIONS
» Located just off the signalized hard corner of Sunrise Boulevard and Greenback Lane – nearly 90,500 vehicles per day at the intersection
» Sunrise Boulevard and Greenback Lane are both primary arterials and provide convenient access to Interstate 80 and Highway 50
EXCELLENT LOCATION IN SUNRISE MARKETPLACE
» Sunrise MarketPlace, a ten-block retail and business district, is the social, business, and economic center of Citrus Heights
» Sunrise MarketPlace features over 400 businesses, services, and restaurants and hosts multiple events each year
» Property is adjacent to Marketplace At Birdcage and Sunrise Mall, one of the Sacramento area’s largest and most successful super-regional shopping centers
LARGE CUSTOMER BASE WITH ROBUST DEMOGRAPHICS
» Outparcel to large technical school opening January 2017 – expected full-time enrollment of up to 450 students
» Population of 320,659 with an average household income of $80,700 within a five-mile radius
» Nearly 121,000 daytime employees within a five-mile radius

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located in the Sunrise Hills shopping center at the signalized hard corner of Sunrise Boulevard and Greenback Lane, one of the busiest intersections in the Sacramento metropolitan area, with nearly 90,500 vehicles per day. Sunrise Hills is anchored by Chuck E. Cheese’s and National Career Education (NCE), opening in early January 2017, which will have an ultimate full-time enrollment of 400 to 450 students per day. Sunrise Hills also features major national retailers, including Pier 1 Imports, Red Lobster, and Buffalo Wild Wings. The property is strategically located in Sunrise MarketPlace, a collection of over 400 businesses, services, and restaurants densely packed into a ten-block area surrounded by some of the region’s most traveled thoroughfares. Sunrise MarketPlace has several neighborhood centers and has formed a regional presence with the Sunrise Mall and Marketplace At Birdcage. Sunrise Mall, one of the Sacramento area’s largest and most successful enclosed super-regional shopping centers, is anchored by JCPenny, Sears, Macy’s Women’s, and Macy’s Men’s and Home. Marketplace at Birdcage, an open-air community center, is anchored by Walmart Neighborhood Market, Best Buy, Barnes & Noble, Stein Mart, Cost Plus World Market, Michaels, Old Navy, Ulta, and Off Broadway Shoes. Other notable retailers in Sunrise MarketPlace include Target, Lowe’s, Marshalls, BevMo, Staples, PetSmart, Toys “R” Us, Jo-Ann Fabrics, Smart & Final Extra, Rite Aid, Sports Authority, and many others. Sunrise MarketPlace is promoted by The Sunrise MarketPlace Shopping & Business District (SMPBID), which has invested more than $9 million into the district brand and has brought thousands of visitors and generated millions of media impressions over its 16-year history.

Located in the heart of Citrus Heights, the property benefits from its central location and the robust demographics of the surrounding area. Sunrise Boulevard and Greenback Lane provide convenient access to Interstate 80 and Highway 50, two of Sacramento’s major freeways. Additionally, the property is located in a densely populated area; 320,659 people with an average household income of $80,700 reside within a five-mile radius of the site.

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