Longhorn Steakhouse Ground Lease 2004 Nathan Dean Byp 5,780 SF Retail Building Rockmart, GA 30153 $2,570,000 ($444.64/SF) 5.25% Cap Rate



INVESTMENT HIGHLIGHTS
- New Construction LongHorn Ground Lease with 10-Year Term
- Located at Lighted Busy Intersection: 23,400 VPD on Highway 278
- Strong Intrinsic Value Due to Ground Lease: Value of land and building exceeds purchase price
- LongHorn Steakhouse was the Best Performer among All Darden Restaurants, with a 7.5% Increase in Same-Store Sales 4Q
- Across from Strong Performing Walmart: $75M+ sales and 1.7M Annual Visits
- Investment Grade Tenant: (S&P BBB) $11.5B in Total Sales Annually
EXECUTIVE SUMMARY
Franklin Street is pleased to present this new construction Longhorn Steakhouse ground lease in Rockmart, Georgia. Rockmart is located within the Atlanta MSA, approximately one hour northwest of downtown Atlanta. The location of the site is across from a strong performing Walmart that pulls from a 10+ mile radius. The development is located at a lighted intersection and shares access with a newly developed Dunkin'. The location fronts Highway 278, which attracts 23,400 daily drivers. Longhorn will have very limited competition, as the next closest national steakhouse is more than 20 miles away. LongHorn Steakhouse is part of the Darden brand which is the world's largest full-service restaurant company, and includes popular national restaurant concepts Olive Garden, Cheddar's, Yard House, Capital Grille, Seasons 52, Bahama Breeze, Eddie V's, Ruth's Chris, and Chuy's. LongHorn Steakhouse was the top performer among all concepts for same store sales increases. The Highway 278 corridor is home to national brands including Walmart, Ingles, Tractor Supply Company, Chick-fil-A, Zaxby's, Mavis Tire, Dollar Tree, Taco Bell, among others.
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PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,780 SF
Building Class
C
Year Built
2025
Price
$2,570,000
Price Per SF
$444.64
Cap Rate
5.25%
NOI
$135,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
2.24 AC
PROPERTY TAXES
Parcel Number | 060-025C | Improvements Assessment | $0 |
Land Assessment | $6,583 | Total Assessment | $6,583 |