Chick-fil-A (GL)

9925 U.S. 441, Leesburg, FL 34788

$3,796,000

Cap Rate 4.00%

Views: 18 DOM: 56 Updated: 05.03.24 Posted: 03.21.24 Status: Active

Summary

Price $3,796,000	Built/Renov 2023	Tenant Chick-fil-A (GL)
Cap Rate 4.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,711	Lease Start 04-01-2024	#Units 2,806
Price/SF $664.68	Expiration 04-01-2039	Tenant Type Fast Casual/Rest.
NOI $151,844	R. Term 14.10	Ownership Ground Lease
Rent/SF $26.59	Increases 10.0%/6/yrs	Pop 5Mi 45,899
Lot/AC 1.70	Options 13/5yrs/10%	AHHI 5Mi $73,572

Lease Highlights

Brand-new 2023 construction
Chick-fil-A will be executing a brand-new 15-year ground lease with 13 (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 on U.S. Hwy 441, with access to 37,600 vehicles passing by daily. The property benefits from close proximity to a dense retail corridor that includes Lake Square Mall, a regional mall anchored by Belk, AMC Theatres, Books-A-Million, PetSmart, Hibbett Sports, Shoe Dept., and more. Additionally, it is in the vicinity of Lake-Sumter State College Airport and...

...

Key Features

New construction
Dense retail corridor
Near major nationals
Highway location
Top 100 MSA
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
Corporate Guarantee

...

Links

Chick-fil-A Wikipedia Chick-fil-A Wikipedia Leesburg, Florida Zip Code 34788 Broker Site Page

Maps

Local Information

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...

...

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Radio Rd	Hwy 441	2012	7,711	0.27 mi
Radio Rd	Shademoor Dr	2012	7,500	0.28 mi
Silver Lake Dr	College Dr	2012	2,532	0.66 mi
Radio Rd	Patrick Dr	2012	2,532	0.72 mi
	Echo Dr	2022	35,606	0.72 mi
US Hwy 441	Lakes Blvd	2012	37,556	0.77 mi
Creek Rd	Bayberry Dr	2012	12,939	1.11 mi
Radio Road	Treadway School	2022	7,700	1.30 mi
US Hwy 441	Airport Vw	2012	37,556	1.37 mi
Silver Lake Dr	N Silver Lake Rd	2012	2,532	1.39 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

307 Listings
14852 Views
108 Sold

Patrick Luther

SRS National Net Lease Group

Contact

353 Listings
16455 Views
129 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

...

Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

...

Patrick Nutt

SRS National Net Lease Group

Contact

211 Listings
8762 Views
69 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

...

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