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Views: 65 DOM: 61 Updated: 10.16.24 Posted: 09.21.24 Status: Active

Summary

Price $2,811,000
Built/Renov 2024
Tenant Chick-fil-A (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,222
Lease Start 01-23-2025
#Units 3,059
Price/SF $538.30
Expiration 01-22-2040
Tenant Type Fast Casual/Rest.
NOI $126,500
R. Term 15.2
Ownership Ground Lease
Rent/SF $24.22
Increases 7.5%/5/yrs
Pop 5Mi 42,774
Lot/AC 2.53
Options 12/5yrs/7.5%
AHHI 5Mi $80,390

Lease Highlights

  • Brand new 2024 construction
  • New 15-year ground lease with 12 (5-year) options to extend
  • The lease features 7.5% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Chick-fil-A is strategically located on Franklin Street, with access to 23,600 vehicles passing by daily. The property also has nearby access to Interstate 94, which sees 55,000 VPD, providing a centralized location within the area. Additionally, it is ideally situated within a dense retail trade area and is near major shopping centers such as Lake Park Plaza, Dunes Plaza, and Marquette Place....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chick-fil-A
  • Guarantor:Corporate
  • Company:Chick-fil-A Inc.
  • # Units:3,059
  • 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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Listing Broker

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