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DOM: 231 Updated: 09.10.24 Posted: 09.10.24 Status: Active

Summary

Price $2,101,000
Built/Renov 2004
Tenant Chicken Express
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,095
Lease Start 12-01-2024
#Units 250
Price/SF $678.84
Expiration 11-30-2039
Tenant Type Fast Food/QSR
NOI $126,066
R. Term 14.7
Ownership Fee Simple
Rent/SF $40.73
Increases 10.0%/5/yrs
Pop 5Mi 310,129
Lot/AC 0.85
Options 3/5yrs/10%
AHHI 5Mi $149,273

Lease Highlights

  • Brand new 15-year sale-leaseback with 3 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Franchisee guaranteed lease

Location Description

Chicken Express is strategically located on E. Spring Creek Parkway, with access to a high daily traffic count of 50,300 vehicles. The property benefits from direct on/off ramp access to U.S. Hwy 75 (213,000 VPD), and features significant street frontage and visibility, along with a large pylon sign. The immediate area features prominent national tenants such as Sam’s Club, Lowe’s, Academy...

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  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chicken Express
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:250
  • Stock:Private

About Tenant

Chicken Express is a fast-food chain known for its fried chicken, chicken tenders, catfish, and various Southern-style side dishes. The restaurant emphasizes quick service, quality food, and...


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Listing Broker

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Matthew Mousavi

SRS National Net Lease Group

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  • 369 Listings
  • 70475 Views
  • 170 Sold
Patrick Luther

SRS National Net Lease Group

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  • 420 Listings
  • 77370 Views
  • 202 Sold

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

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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

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