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Views: 39 DOM: 72 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 15.0
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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Maps

  • 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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