North Smithfield, RI Texas Roadhouse

39 Dowling Village Boulevard
Lease Type Ground
Cap Rate 5.64%
Property Type Retail
Building Size 7,163 SF
NOI $110,000
Land Area 1.73 AC
Remaining Term 7 Years
Status Closed
Property Highlights

Prime retail site: The Property is within Dowling Village premier power center (a 600,000 square foot mixed-use development) anchored by Lowe’s, Walmart Supercenter, ALDI Supermarket and Kohl’s. This is North Smithfield’s largest site for commercial development (with a trade area of nearly 190,000 people) featuring cross easements with box tenants and added development potential.

Excellent market location: The Property is 20 minutes from Providence (more than 1.7 million people) and less than one hour from Boston. Interstate 295 runs just south of the town with direct access from nearby North Smithfield Expressway. Over 95,000 people, with an average household income greater than $73,000, live within five miles of the Property.

Quality, long-term investment: This ground lease features no landlord responsibilities and fixed 10 percent rental increases every five years throughout the base term and options. Texas Roadhouse currently operates more than 510 company-owned and franchised restaurants in 49 states, as well as many international locations.

North Smithfield is located 15 miles from Providence, Rhode Island's capital and the state's most populous city. Providence has the 37th largest metropolitan area population in the country, with more than 1.7 million people calling the area home.