Chicken Express

529 North Stewart Street, Azle, TX 76020

$3,922,000

Cap Rate 6.00%

Views: 63 DOM: 113 Updated: 11.15.24 Posted: 08.30.24 Status: Active

Summary

Price $3,922,000	Built/Renov 2002	Tenant Chicken Express
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,249	Lease Start 12-01-2024	#Units 250
Price/SF $1,207.14	Expiration 11-30-2039	Tenant Type Fast Food/QSR
NOI $235,354	R. Term 14.11	Ownership Fee Simple
Rent/SF $72.44	Increases 10.0%/5/yrs	Pop 5Mi 40,117
Lot/AC 0.00	Options 3/5yrs/10%	AHHI 5Mi $122,553

Lease Highlights

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

Location Description

Chicken Express is strategically located on N Stewart St, a major retail thoroughfare with access to 7,800 vehicles passing by daily. The property benefits from nearby direct on/off ramp access to State Highway 199, which sees 32,900 VPD. Additionally, it is an outparcel to Lake Plaza and just south of a Walmart Supercenter-anchored center featuring well-known national tenants, including...

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Key Features

Shopping Ctr out-parcel
Freeway visibility
Top 100 MSA
Affluent AHHI $100K 5 Mi
Income tax free state
Brand new lease
Long 15+ yr lease
Store sales reported
Absolute NNN
Personal guarantee

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Links

Chicken Express Wikipedia Chicken Express Wikipedia Azle, Texas Zip Code 76020 Broker Site Page

Maps

Local Information

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

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
46275 Views
137 Sold

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
50695 Views
165 Sold

Matthew Mousavi

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 Luther

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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