A West Chester Twp. restaurant property has sold for more than $2.5 million, a real estate investment firm said.
Texas Roadhouse, at 7309 Kingsgate Way, sold for nearly $2.55 million in an all-cash transaction, according to Marcus & Millichap, a California-based real estate investment services firm.
The restaurant is a 7,163-square foot net-leased property. “Numerous offers were received from prospective buyers,” the firm said in a release.
Craig Fuller, Erin Patton and Scott Wiles, investment specialists in Marcus & Millichap’s Columbus and Cleveland offices, listed the property on behalf of the seller, a local private developer.
The buyer — identified only as an out-of-state purchaser — was represented by Marcus & Millichap in New York City.
The restaurant opened just last July, employing about 175 workers.
RELATED: Texas Roadhouse opens last summer in West Chester
The property has a 15-year “NNN” ground lease, a lease in which the tenant agrees to pay real estate taxes, building insurance and maintenance taxes. Such leases are often attractive to real estate buyers.
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