Longhorn Steakhouse · St Peters, MO

Longhorn Steakhouse NNN

3979 Veterans Memorial Parkway · St Peters, MO 63376 · QSR / Restaurant

Asking price

$1,822,900

Cap rate

5.75%

NOI

$104,816

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Lease

Lease typeNNN

Term remaining8.0 yrs

Expiration07/2034

Rent bumps12.5% Increase in Each Option; 5% Increase in 2029

OptionsTwo, 5-Year Options Remaining

Ground leaseYes

Credit profile—

TenancySingle

Planning a 1031 Exchange

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Property

Building SF5,300

Price / SF$344

Year built2004

Lot size0.32 ac

TypeRestaurant

Days on market103

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

NNN Ground Lease with Multiple Lease Extensions: Originally set to expire in 2019, LongHorn’s NNN ground lease has been extended multiple times. Most recently, the lease was extended for an additional 10 years through 2034 and now features ±8.0 years of term remaining with two, 5-year options remaining. Rent increases by 5% in 2029 during the current term and 12.5% in each of the options.

Excellent Interstate Access & Visibility: LongHorn is positioned with excellent access and visibility along Veterans Memorial Parkway (7,304 VPD), feet from its intersection with Cave Springs Road (17,721 VPD) and the on-ramp to Interstate 70 (61,131 VPD), which provides direct access to downtown St. Louis (26 miles southeast).

Within the 176,804 SF Cave Springs Shopping Center: The property is within the 176,804-square-foot Cave Springs Shopping Center, which is tenanted by Hobby Lobby, The Edge Fitness Club, Office Depot, Cycle Gear, Northern Tool + Equipment, T-Mobile, Verizon, Batteries + Bulbs and Twisted Tavern.

St. Louis, MO-IL MSA Advantage: MSA Population 2.8M+

Property overview

CBRE is pleased to exclusively offer for sale the NNN LongHorn Steakhouse ground lease situated

on 0.32 acres in St. Peters, Missouri—part of the St. Louis, MO-IL (Population: 2.8M+). LongHorn is

positioned with excellent access and visibility along Veterans Memorial Parkway (7,304 VPD), feet

from its intersection with Cave Springs Road (17,721 VPD) and the on-ramp to Interstate 70 (61,131

VPD), which provides direct access to downtown St. Louis (26 miles southeast). The property is

within the 176,804-square-foot Cave Springs Shopping Center, which is tenanted by Hobby Lobby,

The Edge Fitness Club, Office Depot, Cycle Gear, Northern Tool + Equipment, T-Mobile, Verizon,

Batteries + Bulbs and Twisted Tavern.

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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.