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Views: 70 DOM: 199 Updated: 05.03.24 Posted: 10.30.23 Status: Active

Summary

Price $6,684,000
Built/Renov 2023
Tenant Chick-fil-A
Cap Rate 4.15%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,930
Lease Start 12-01-2023
#Units 2,806
Price/SF $1,355.78
Expiration 12-01-2038
Tenant Type Fast Casual/Rest.
NOI $277,384
R. Term 14.6
Ownership Fee Simple
Rent/SF $56.26
Increases 10.0%/5/yrs
Pop 5Mi 22,669
Lot/AC 1.80
Options 13/5yrs/10%
AHHI 5Mi $95,638

Lease Highlights

  • Brand new 2023 construction | Slated to open in December
  • The tenant, Chick-fil-A, Inc. recently signed a brand new 15-year lease with 13 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

This newly constructed Chick-fil-A is strategically located along U.S. Highway 290, a major thoroughfare serving 45,600 vehicles per day. The asset is ideally situated near a dense, regional retail corridor featuring numerous national/credit tenants including Walmart Supercenter, The Home Depot, Marshalls, H-E-B, Hobby Lobby, Lowe’s, and many more. Furthermore, it is positioned within a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chick-fil-A
  • Guarantor:Corporate
  • Company:Chick-fil-A
  • # 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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 3,297 17,126 22,768
2023 Total Population : 3,379 17,303 22,669
2023 Employed Civilian Pop : 1,203 6,828 9,330
2023 Total Businesses : 249 1,090 1,253
2023 Average Household Income : $ 89,035 $ 87,079 $ 95,638
2023 Total Consumer Spending : $ 120 M $ 490 M $ 715 M
2023 Median Age : 43 37 39
2023 Total Households : 1,519 6,387 8,531
2023 Pop Age 25+: Bachelor's Degree : 588 2,441 3,278
2023 Average Home Value : $ 273,755 $ 255,317 $ 309,381
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Market Street Cantey St 2020 2,417 0.57 mi
Progress Dr 2021 9,488 0.81 mi
United States Hwy 290 E 2021 33,412 0.82 mi
TX 121 Hwy 290 E 2020 30,643 0.82 mi
Progress Dr 2021 8,504 0.82 mi
Gun and Rod Road Victory Ln 2019 6,539 0.99 mi
Highway 36 US Hwy 290 2021 22,200 1.00 mi
S Day St Hillcrest Ln 2002 15,400 1.02 mi
Gun and Rod Road Victory Ln 2021 5,411 1.04 mi
South Day Street Medical Pkwy 2021 17,776 1.05 mi

Listing Broker

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