loader
Join Free
Views: 79 Updated: 05.07.24 Posted: 09.27.23 Status: Sold

Summary

Price $4,375,000
Built/Renov 2023
Tenant Chick-fil-A (GL)
Cap Rate 4.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,500
Lease Start 01-01-2024
#Units 2,806
Price/SF $972.22
Expiration 12-31-2039
Tenant Type Fast Casual/Rest.
NOI $175,000
R. Term 15.7
Ownership Ground Lease
Rent/SF $38.89
Increases 10.0%/5/yrs
Pop 5Mi 112,703
Lot/AC 1.48
Options 6/5yrs/10%
AHHI 5Mi $122,129

Lease Highlights

  • The brand-new state-of-the-art property is slated to open in January 2024
  • The tenant, Chick-fil-A, Inc recently signed a brand new 15-year ground lease with 6 (5-year) options to extend
  • The lease features 10% rental increases every 10 years throughout the initial term and at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Chick-fil-A is strategically located at the signalized, hard corner intersection of Ocotillo Rd and Ironwood Rd, averaging a combined 52,600 vehicles passing by daily. The building is equipped with a double drive-thru, providing ease and convenience for customers. The asset is in close proximity to multiple nearby national/credit tenants that include Safeway, Walgreens, Circle K, O’Reilly Auto...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chick-fil-A
  • Guarantor:Corporate
  • Company:Chick-fil-A Inc.
  • # Units:2,806
  • 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...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

NEWSLETTER SIGN UP

Subscribe
my activity