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Texas Roadhouse - Covington LA 6025 Pinnacle Pky 6,995 SF Retail Building Covington, LA 70433 $2,250,000 ($321.66/SF) 5.19% Cap Rate
Investment Highlights
- 10 Years Remaining | Scheduled Rental Increases | Established Brand
- Outparcel to Nord Du Lac (215,000+ SF) | Dense Retail Corridor | Anchored by New Traffic Drivers (Costco + Floor & Decor)
- Signalized, Hard Corner Intersection | Interstate 12 | Excellent Visibility & Access
- Absolute NNN | Leased Fee Ownership | Ground Lease | Zero Landlord Responsibilities
- Sustained Population Growth | Six-Figure AHHI
Executive Summary
• The tenant currently has 10 years remaining on their initial lease with 2 (5-year) options to extend, demonstrating their commitment to the site
• The lease features a 5% increase in Nov. of 2030 and 10% increases at the beginning of each option, growing NOI and hedging against inflation
• Texas Roadhouse, Inc. is a growing restaurant company operating predominantly in the casual dining segment that first opened in 1993 and today has grown to over 800 restaurants system-wide in 49 states
• The lease features a 5% increase in Nov. of 2030 and 10% increases at the beginning of each option, growing NOI and hedging against inflation
• Texas Roadhouse, Inc. is a growing restaurant company operating predominantly in the casual dining segment that first opened in 1993 and today has grown to over 800 restaurants system-wide in 49 states
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
6,995 SF
Building Class
B
Year Built
2011
Price
$2,250,000
Price Per SF
$321.66
Cap Rate
5.19%
NOI
$116,886
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
1.46 AC
Zoning
General Commercial
Parking
112 Spaces (16.01 Spaces per 1,000 SF Leased)
Frontage
235’ on Pinnacle Pky
Amenities
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Signage
- Signalized Intersection
Nearby Major Retailers
Property Taxes
| Parcel Number | 11062 | Improvements Assessment | $101,006 |
| Land Assessment | $0 | Total Assessment | $101,006 |
Property Taxes
Parcel Number
11062
Land Assessment
$0
Improvements Assessment
$101,006
Total Assessment
$101,006
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Texas Roadhouse - Covington LA | 6025 Pinnacle Pky
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