Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a Texas Roadhouse ground lease property in Gainesville for $4 million.
According to a press release sent on Wednesday, the property, located at 3984 S.W. 43rd St. west of the Interstate 75 Archer exit, consists of an 8,392-square-foot single-tenant restaurant operating under a long-term ground lease. The restaurant is occupied by Texas Roadhouse and will continue operating following the transaction.
According to Marcus & Millichap, investor demand remains strong for high-quality retail assets leased to established national operators.
“Buyers continue to prioritize high-quality assets in strong retail corridors, particularly those leased to established operators performing well in today’s market environment,” said Chris Lind, senior managing director investments with Marcus & Millichap, in the press release. “This property checked all the boxes for investors seeking long-term stability and dependable cash flow.”
Lind, along with Mark Ruble and Zack House of Marcus & Millichap’s Phoenix office, represented the transaction in association with Ryan Nee, the firm’s Florida broker of record. The team procured the buyer, a Delaware limited liability company.
The Gainesville property is situated within a major retail corridor and serves as one of the area’s established dining destinations, according to the release. The transaction reflects continued investor interest in net-leased restaurant properties backed by nationally recognized brands.