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3720 Patrick Way
Elizabeth City, NC 27909
Texas Road House | Ground Lease · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 2024 new construction | 14 years remaining on lease
- Corporate lease | Texas Roadhouse Holdings, LLC | 772 locations across 49 states & 10 foreign countries | NASDAQ: TXRH
- Dominant retail corridor for the region
- Absolute net ground lease | Zero landlord responsibilities
- Outstanding average store sales | 2024 AUV $8.48M
- Explosive population growth within a 1-mile radius | 82.58% from ’10-‘25
EXECUTIVE SUMMARY
Carl Brendes and Ransome Foose of Berkeley Capital Advisors are pleased to present for sale Texas Roadhouse Ground Lease in Elizabeth, NC. We welcome your review of this attractive investment.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,926 SF
Building Class
C
Year Built
2024
Price
$3,145,000
Price Per SF
$396.80
Cap Rate
5.50%
NOI
$173,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
2.49 AC
Zoning
C-1 - Commercial
Parking
180 Spaces (22.71 Spaces per 1,000 SF Leased)
Frontage
272’ on Patrick Way
PROPERTY TAXES
| Parcel Number | 7993867609 | Improvements Assessment | $0 |
| Land Assessment | $195,100 | Total Assessment | $195,100 |
PROPERTY TAXES
Parcel Number
7993867609
Land Assessment
$195,100
Improvements Assessment
$0
Total Assessment
$195,100
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