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Views: 154 DOM: 448 Updated: 08.06.24 Posted: 10.31.23 Status: Active

Summary

Price $6,260,000
Built/Renov 2023
Tenant Chick-fil-A
Cap Rate 4.40%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,174
Lease Start 10-06-2023
#Units 2,806
Price/SF $1,209.90
Expiration 11-30-2038
Tenant Type Fast Casual/Rest.
NOI $275,447
R. Term 13.10
Ownership Fee Simple
Rent/SF $53.65
Increases 10.0%/5/yrs
Pop 5Mi 45,395
Lot/AC 1.68
Options 13/5yrs/10%
AHHI 5Mi $58,114

Lease Highlights

  • Brand new 2023 construction
  • Chick-fil-A recently signed a 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
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Chick-fil-A Inc.

Location Description

This brand-new Chick-fil-A, complete with a drive-thru, is located along Highway 83, which averages 43,400 vehicles passing by daily and is the major retail thoroughfare serving the city of Penitas. The property is adjacent to a Walmart anchored center that also features Dollar Tree, Sally Beauty Supply, and more. It is positioned in the center of a primary retail corridor with other nearby...

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  • 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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Listing Broker

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Patrick Luther

SRS National Net Lease Group

Contact
  • 420 Listings
  • 55821 Views
  • 166 Sold

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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