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Views: 83 Updated: 03.26.24 Posted: 06.14.23 Status: Inactive

Summary

Price $5,450,000
Built/Renov 1998
Tenant Chili's
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,606
Lease Start 12-29-2005
#Units 1,602
Price/SF $972.17
Expiration 12-31-2032
Tenant Type Casual Dining
NOI $326,988
R. Term 8.0
Ownership Fee Simple
Rent/SF $58.33
Increases 10.0%/2/yrs
Pop 5Mi 54,685
Lot/AC 1.53
Options 3/5yrs/10%
AHHI 5Mi $60,654

Lease Highlights

  • Chili’s has been operating in this location sine 2005
  • Tenant has over 9 years remaining on the current lease term with 3 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Brinker International, Inc. (NYSE: EAT)

Location Description

Chili’s is located at the signalized, hard corner intersection of Wheeler Road and Robert C. Daniel Jr. Parkway averaging a combined 50,300 vehicles per day. The asset is equipped with a large pylon sign, creating excellent visibility along Interstate 520 and Wheeler Road. The site benefits from nearby on/off ramp access to Interstate 520 (77,500 VPD), the primary north/south freeway...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chili's
  • Guarantor:Corp T and Rated
  • Company:Brinker International, Inc.
  • # Units:1,602
  • Tenant S&P: BB
  • Moody’s: Ba3
  • Stock: NYSE: EAT

About Tenant

Chili’s Grill & Bar is an American casual dining chain serving American food , Tex-Mex cuisine , and Mexican-inspired dishes . Founded in 1975 on the corner of Greenville Avenue and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,908 61,486 157,222
2023 Total Population : 6,666 60,688 155,145
2023 Employed Civilian Pop : 2,738 26,929 69,390
2023 Total Businesses : 707 3,401 6,202
2023 Average Household Income : $ 93,782 $ 89,792 $ 94,009
2023 Total Consumer Spending : $ 280 M $ 2139 M $ 5389 M
2023 Median Age : 36 37 38
2023 Total Households : 3,405 27,340 65,878
2023 Pop Age 25+: Bachelor's Degree : 1,513 8,594 23,058
2023 Average Home Value : $ 287,721 $ 240,548 $ 246,521
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Wheeler Rd Robert C Daniel Jr Pkwy 2008 20,220 0.11 mi
Wheeler Rd 2021 5,930 0.17 mi
Bobby Jones Expressway I- 20 2021 86,400 0.18 mi
Wheeler Road I- 520 2019 38,100 0.20 mi
Wheeler Road W Wheeler Pkwy 2021 34,100 0.20 mi
Wheeler Rd 2021 7,870 0.25 mi
George C Wilson Dr 2021 4,330 0.25 mi
George C Wilson Dr 2021 7,370 0.27 mi
I- 520 Wheeler Rd 2008 77,470 0.41 mi
I- 520 2021 3,800 0.49 mi

Listing Broker

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