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Views: 74 DOM: 37 Updated: 11.14.24 Posted: 11.14.24 Status: Active

Summary

Price $3,306,181
Built/Renov 2013
Tenant Bush's Chicken
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,432
Lease Start 05-25-2016
#Units 80
Price/SF $963.34
Expiration 06-30-2036
Tenant Type Fast Food/QSR
NOI $181,840
R. Term 11.6
Ownership Fee Simple
Rent/SF $52.98
Increases 10.0%/5/yrs
Pop 5Mi 250,159
Lot/AC 0.94
Options 4/5yrs/10%
AHHI 5Mi $98,549

Lease Highlights

  • 11+ years remaining on the current lease term with 4 (5-year) renewal options
  • The lease features 10% rental increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Additional Billboard income | The Billboard lease has 3.5 years of term remaining providing an additional revenue stream for the owner
  • Dual guarantees from Bush’s Chicken | Lease backed by both Bush’s Chicken corporate entity and a personal guarantee from the company’s Founder

Location Description

Bush’s Chicken is positioned in a high-traffic area of San Antonio, with over 30,000 vehicles passing daily. Situated near key economic drivers like Northeast Baptist Hospital and San Antonio International Airport, the property benefits from substantial daily traffic and a robust customer base. Nearby corporate offices and schools further support a steady flow of business, while the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Bush's Chicken
  • Guarantor:Corporate
  • Company:Bush's Chicken, Inc.
  • # Units:80
  • Stock:Private

About Tenant

Bush’s Chicken was founded in 1996 by Keith and Charlene Bush on the outskirts of Waco, Texas, embodying the spirit of the "Heart of Texas." Originally launched as a single location, Bush’s...


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