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Logan’s Roadhouse – $3,775,000

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Logan’s Roadhouse – $3,775,000 2017-04-12T19:07:01+00:00

Project Description

4046 Wards Road

Lynchburg, VA 24502

±8,032 SF Retail For Sale

Logan's Roadhouse Restaurant


Price: $3,775,000
Building Size: 8,032 SF
Price/SF: $470.00
Property Type: Retail
Property Sub-type: Free Standing Bldg
Property Use: Type Net Lease Investment with 10+ years left on lease
Cap Rate:  6.61%
Tenancy:  Single
Year Built:  2001
Lot Size:  2.44 AC

Description:

The subject property affords investors the rare opportunity to acquire a superbly located Logan’s Roadhouse in Lynchburg, Virginia. Built to suit in 2001, the 8,032 square foot building has successfully operated as a Logan’s Roadhouse for over fourteen years. The property is located on a large 2.44 acre lot and sits on a hard corner signalized intersection along Lynchburg’s busiest retail corridor. It’s location greatly benefits from it’s immediate proximity to Liberty University and Central Virginia Community College.

The lease is absolute net in nature and requires absolutely zero landlord responsibilities. There are currently over 10 years remaining on an initial lease term that is complimented by (5), 5-year option periods that extend through 2051.

Lynchburg is an independent city in the Commonwealth of Virginia. Nestled in the foothills of the Blue Ridge Mountains along the James River, Lynchburg is the fifth largest MSA in the state with an overall estimated population of 255,000. It is the home to multiple institutions of higher learning, most notably: Liberty University (enrollment 24,000 resident students and 100,000 on-line students) and Central Virginia Community College (enrollment 5,400 resident students).

The property is located at corner of Wards Crossing — a major retail power center anchored by Target, PetSmart, Dick’s Sporting Goods, Bed Bath & Beyond, Barnes & Noble, Pier 1 Imports, and Best Buy. Other notable tenants in the area include Kohl’s, AT&T, Smoothie King, Old Navy, Zaxby’s, Chipotle, Bob Evans, Golden Corral, Chick-fil-a, McDonalds, Sheetz, Starbucks, Olive Garden, Ruby Tuesday, Cracker Barrel, Texas Roadhouse, Buffalo Wild Wings, Wal-Mart, and Sam’s Club. The property is also located less than one mile from the Lynchburg Regional Airport.
Current loan quotes show the ability to finance this investment with a loan for 60% LTV at market rates and terms. Additionally, the current debt in place is fully assumable and would require a down payment of 50%. Please contact listing agent for details.

Attachments:

Marketing Brochure

Highlights:

  • Corporate Guarantee (214 Locations)
  • 10 Years Remaining On Primary Lease Term
  • In-place assumable financing
  • Annual Rent Increases Provide Strong Inflation Hedge
  • Located Along Lynchburg’s Dominant Retail Corridor
  • 80,000+ Residents Within 5-Mile Radius of Property
  • Immediate Proximity to Liberty University
  • 30,000 Students within 3-Mile radius of Property