April 14, 2022 – Kyle Danielson and Jason Woods of Horvath & Tremblay have successfully completed the sale of a Texas Roadhouse in Bristol, Virginia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,222,222.
Texas Roadhouse is located at 210 Falls Boulevard in Bristol, Virginia. Texas Roadhouse has 14+ years remaining on an Absolute NNN ground lease, as well as three (3), 5-year renewal options. The Texas Roadhouse lease calls for attractive 10% rent increases every five years throughout their primary term and at the start of each renewal option. The new construction building is extremely well located along Falls Boulevard with frontage along Lee Highway, one of the primary commercial and commuter routes in the area with more than 20,000 vehicles per day. The Property is positioned within a newly developed commercial zone and is shadow anchored by Lowe’s, Cabela’s, ALDI and Hobby Lobby. The area is home to numerous other national retailers, and a large new construction residential community providing a ready and captive customer base. Additionally, the Property offers convenient access to Interstate 81.
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.