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Views: 19 DOM: 38 Updated: 04.22.24 Posted: 04.09.24 Status: Active

Summary

Price $2,944,000
Built/Renov 2021
Tenant Chick-fil-A (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,999
Lease Start 10-21-2021
#Units 2,982
Price/SF $588.92
Expiration 10-31-2036
Tenant Type Fast Casual/Rest.
NOI $132,500
R. Term 12.5
Ownership Ground Lease
Rent/SF $26.51
Increases 10.0%/5/yrs
Pop 5Mi 99,158
Lot/AC 1.04
Options 8/5yrs/10%
AHHI 5Mi $132,830

Lease Highlights

  • Chick-fil-A has 12+ years remaining on the current ground lease term with 8 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Chick-fil-A is strategically located at the signalized, hard corner intersection of Smallwood Drive and Crain Highway, a major retail thoroughfare, with access to a combined daily traffic count of 79,400 vehicles. The area is surrounded by well-known national tenants, including Walmart, Sam’s Club, Target, Lowe’s Home Improvement, Aldi, and more. Additionally, the site is adjacent to St....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chick-fil-A
  • Guarantor:Corporate
  • Company:Chick-fil-A Inc.
  • # Units:2,982
  • Stock:Private

About Tenant

Chick-fil-A is one of the largest American fast-food restaurant chains, and the largest specializing in chicken sandwiches. Chick-fil-A was first opened in 1946 in Atlanta, Georgia, under the name...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,878 69,563 102,774
2023 Total Population : 9,679 67,788 99,247
2023 Employed Civilian Pop : 5,364 35,620 51,420
2023 Total Businesses : 697 2,538 3,135
2023 Average Household Income : $ 122,599 $ 126,065 $ 132,889
2023 Total Consumer Spending : $ 377 M $ 2656 M $ 3993 M
2023 Median Age : 36 35 36
2023 Total Households : 3,633 24,754 35,465
2023 Pop Age 25+: Bachelor's Degree : 1,327 9,491 13,711
2023 Average Home Value : $ 323,927 $ 375,013 $ 388,222
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Smallwood Drive West 2017 16,482 0.10 mi
Old Washington Road Smallwood Dr 2020 7,232 0.18 mi
Crain Hwy Smallwood Dr 2000 53,250 0.31 mi
Crain Highway 2018 38,040 0.35 mi
Smallwood Dr W Saint Patricks Dr 2003 16,988 0.41 mi
Copley Ave Stoddert Ave 2018 3,320 0.49 mi
Copley Ave Acadia Rd 2020 2,772 0.53 mi
Smallwood Dr Prentiss Rd 2020 13,162 0.61 mi
Smallwood Drive West Saint Patricks Dr 2018 17,130 0.62 mi
Saint Patricks Drive 2017 17,862 0.63 mi

Listing Broker

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