December 29, 2020 – Jeremy Black of Horvath & Tremblay has successfully completed the sale of Texas Roadhouse in Clay, New York. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,300,000.
Texas Roadhouse is located at 3830 Route 31 in Clay, New York. Constructed in 2019, the stand-alone building consists of 7,163 square feet and sits on 2.97 acres of land. Texas Roadhouse has 13+ years remaining on a corporately backed, Triple-Net Ground Lease with three, 5-Year renewal options. The lease features 10% rent increases every five-years throughout the base term and at the start of each option period. The Texas Roadhouse is adjacent to a new construction WellNow Urgent Care, Starbucks, America’s Best Contacts & Eyeglasses, and Five Guys. The property is strategically located along Route 31 just before the junction with Route 481. This is a heavily travelled shopping, dining and entertainment corridor that features a Lowe’s Home Improvement, Home Depot, Target, Walmart Supercenter, Wegmans, TJ Maxx, Regal Cinemas, and the Great Northern Mall.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.