LongHorn Building, other commercial properties for sale | Local News
JUSTIN EPLEY Editor-in-Chief
While the restaurant looks set to stay long term, the LongHorn Steakhouse building is for sale.
This and a handful of other major commercial properties are up for purchase, according to listings aggregated by the LoopNet website.
They include the LongHorn building at 2156 S. Sterling St., the former Burke Pharmacy building at 301 W. Meeting St., the Queen City Audio-Video-Appliances / Labor Connections building at 307 and 309 Sanford Drive, the Specialty Stone site at 100 Carbon City Road, the former Causby Construction building at 522 W. Fleming Drive, the former Maple Grove store building at 1503 N. Green St., and the former Morganton Christian Academy building at 105 Randall Road.
Large plots of commercial land are also available at 1307 E. Union St. and 4336 Sundown Road.
According to the LongHorn listing, the building, built in 2020, is 5,000 square feet on 2.05 acres of land and is available for $ 2.8 million. Pegasus Investments Real Estate Advisory reports that the building is leased absolute triple net – meaning the tenant is responsible for all expenses of the property – to LongHorn for a 10 year term until 2030 which includes a rent increase by 10% in 2025. LongHorn has four more five-year options, each with a 10% rent increase.
The old Burke Pharmacy building on RBV Plaza, available through Morganton-based Stock Properties, was built in 2001, has an area of ââ11,856 square feet on 0.62 acres of land and is available for 1.2 million bucks. According to the listing, he has 5,928 square feet on the main level and $ 2,600 per month in income from lower level leases. It has additional space for inventory or additional income, as well as a new roof.