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Views: 93 DOM: 180 Updated: 07.09.24 Posted: 03.20.24 Status: Contract

Summary

Price $3,285,000
Built/Renov 2019
Tenant Slim Chickens
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,337
Lease Start 12-01-2019
#Units 10
Price/SF $984.42
Expiration 11-30-2039
Tenant Type Fast Casual/Rest.
NOI $188,796
R. Term 15.2
Ownership Fee Simple
Rent/SF $56.58
Increases 10.0%/1/yrs
Pop 5Mi 179,849
Lot/AC 1.02
Options 4/5yrs/10%
AHHI 5Mi $77,678

Lease Highlights

  • Slim Chickens has 15+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Mile High Chicken, LLC (10 units backed)

Location Description

Slim Chickens is strategically located on Tower Road, with access to 31,450 vehicles passing by daily. The property boasts excellent visibility and frontage, strategically positioned between two major retail centers. Furthermore, it is conveniently located within a one-mile radius of five schools, serving an estimated 3,300+ students. The area is surrounded by national tenants including...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Slim Chickens
  • Guarantor:Franchisee
  • Company:Mile High Chicken, LLC
  • # Units:10
  • Stock:Private

About Tenant

Slim Chickens is a fast-casual restaurant chain specializing in hand-breaded chicken tenders, wings, chicken and waffles, chicken sandwiches, salads, wraps, and more. In 2003, the first corporate...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,530 97,652 192,563
2023 Total Population : 11,463 89,232 178,902
2023 Employed Civilian Pop : 6,157 46,983 90,297
2023 Total Businesses : 288 1,497 4,395
2023 Average Household Income : $ 97,583 $ 99,256 $ 89,656
2023 Total Consumer Spending : $ 275 M $ 2378 M $ 4472 M
2023 Median Age : 31 32 31
2023 Total Households : 3,236 27,512 56,948
2023 Pop Age 25+: Bachelor's Degree : 1,167 8,831 17,233
2023 Average Home Value : $ 404,189 $ 437,246 $ 445,806
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Tower Rd E 40th Ave 2010 21,589 0.06 mi
E 40th Ave Tower Rd 2015 9,900 0.19 mi
N Andes Way E 41st Ave 2008 457 0.20 mi
N Andes Way 41st Pl 2008 475 0.21 mi
E 43rd Ave N Andes Way 2006 6,700 0.27 mi
Tower Road E 35th Pl 2018 31,443 0.28 mi
Argonne St E 44th Ave 2001 3,996 0.46 mi
E 45th Ave Andes St 2001 8,079 0.50 mi
E 45th Ave Argonne St 2001 6,144 0.52 mi
Argonne St E 45th Ave 2001 2,172 0.55 mi

Listing Broker

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