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LongHorn Steakhouse | Abs NNN GL NEC of N US Hwy 75 & E Lamberth Rd 5,780 SF Retail Building Sherman, TX 75090 $3,000,000 ($519.03/SF) 5% Cap Rate
Investment Highlights
- New 10-Year Lease | Corporate Signature | Options To Extend | Scheduled Rental Increases | Opening January 2027
- Part Of New Development | Highway 75 (58,000 VPD) |Sherman Town Center | Dense Retail Corridor
- Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, LongHorn Steakhouse investment property located in Sherman, Texas. The tenant, LongHorn Steakhouse, recently signed a brand new 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. The tenant plans to open for business in January 2027 (all developer obligations have been met, seller will credit buyer if closing occurs before the rent commencement date).
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,780 SF
Building Class
B
Year Built
2026
Construction Status
Under Construction
Price
$3,000,000
Price Per SF
$519.03
Cap Rate
5%
NOI
$150,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.70 AC
Opportunity Zone
Yes
Zoning
C-1 - Retail Business District
Parking
91 Spaces (15.74 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
1 of 10
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