Chick-fil-A (GL)

East 10th Street & Chestnut Street, Gilroy, CA 95020

$4,934,000

Cap Rate 3.75%

Views: 123 DOM: 233 Updated: 07.19.24 Posted: 04.14.24 Status: Active

Summary

Price $4,934,000	Built/Renov 2024	Tenant Chick-fil-A (GL)
Cap Rate 3.75%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,365	Lease Start 06-01-2024	#Units 2,982
Price/SF $2,086.26	Expiration 05-31-2039	Tenant Type Fast Casual/Rest.
NOI $185,000	R. Term 14.6	Ownership Ground Lease
Rent/SF $78.22	Increases 10.0%/5/yrs	Pop 5Mi 68,982
Lot/AC 1.27	Options 3/5yrs/10%	AHHI 5Mi $159,532

Lease Highlights

Brand new 2024 construction | Double drive-thru
Chick-fil-A recently signed a new 15-year ground lease with 3 (5-year) + 1 (4-year, 11mo) options
Lease features 10% rental increases every 5 years throughout the primary term & option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Chick-fil-A is strategically located at the off/on ramp of Highway 101, within a dominant retail node, with access to a substantial traffic count of 104,200 vehicles. The property boasts excellent visibility, further enhanced by an 80-foot-high pylon sign. Additionally, it is part of the newly constructed Plaza Allium Retail and Hospitality Center, alongside well-known national tenants such as...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Strategically located
Top 100 MSA
Affluent AHHI $100K 5 Mi
Brand new lease
Long 15+ yr lease
Corporate Guarantee

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Links

Chick-fil-A Wikipedia Chick-fil-A Wikipedia Gilroy, California Zip Code 95020 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:2,982
Stock:Private

About Tenant

Chick-fil-A is strategically located at the off/on ramp of Highway 101, within a dominant retail node, with access to a substantial traffic count of 104,200 vehicles. The property boasts excellent...

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Listing Broker

Vahe Nokhoudian

Fisher James Capital

Contact

24 Listings
2493 Views
4 Sold

Putnam Daily

Fisher James Capital

Contact

91 Listings
10598 Views
23 Sold

Vahe Nokhoudian

Fisher James Capital is based in San Francisco with partners in Silicon Valley and the East Bay. Specializing in leased investment brokerage, the partners represent private and institutional capital clients on the disposition and acquisition of single and multi-tenant commercial properties nationwide. This multi-market approach works to align capital into sound investments with a specific strategy positioning newly constructed properties to passive investors.

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Putnam Daily

Putnam Daily is the Managing Partner at Fisher James Capital and provides services to private and institutional capital clients on the disposition and acquisition of leased investment properties. Putnam has extensive experience representing developers, owners, and private capital clients on the sale of single and multi-tenant commercial properties nationwide; with a focus on newly constructed retail, industrial, and medical opportunities, he has completed nearly $8 billion in transactions total

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