4300 Franklin Ave
Waco, TX 76710
LongHorn Steakhouse · Retail Property For Sale

The LongHorn Steakhouse property is strategically located in a regionally dominant retail corridor just west of Baylor University (16,787 students). The property is well located along Franklin Ave (23,000 VPD), which is a primary east-west thoroughfare. The LongHorn Steakhouse is an outparcel to Walmart Supercenter and near other retailers including Target, H-E-B, Hobby Lobby, ALDI, Lowe’s, AMC, Home Depot and the Richland Mall (JCPenney, Sears, Dick’s Sporting Goods, Dillard’s). There are over 140,000 people living within five miles of the property. There will be five years remaining on the corporately guaranteed LongHorn Steakhouse lease upon close of escrow. The lease will feature 1.5% annual rental escalations and require no landlord responsibilities. Additionally, there will be six 5-year renewal option periods. The 5,622 SF LongHorn Steakhouse property features a low rent per square of $17.79. The tenant will be RARE Hospitality International, Inc., a wholly owned subsidiary of Darden Restaurants, Inc., doing business as LongHorn Steakhouse. Darden Restaurants, Inc. (NYSE: DRI) is a multi-brand restaurant operator. *As of December 2018