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Views: 50 DOM: 32 Updated: 09.21.24 Posted: 09.21.24 Status: Active

Summary

Price $2,952,000
Built/Renov 2025
Tenant Chick-fil-A (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,042
Lease Start 07-01-2025
#Units 3,059
Price/SF $585.48
Expiration 06-30-2040
Tenant Type Fast Casual/Rest.
NOI $132,860
R. Term 15.8
Ownership Ground Lease
Rent/SF $26.35
Increases 7.5%/5/yrs
Pop 5Mi 154,484
Lot/AC 0.99
Options 12/5yrs/7.5%
AHHI 5Mi $90,398

Lease Highlights

  • Brand-new 2025 construction
  • The tenant recently signed a new 15-year ground lease with 12 (5-year) options to extend
  • The lease features 7.5% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Chick-fil-A is strategically located on Larkin Avenue, with access to 29,500 vehicles passing by daily. The property benefits from direct access to Interstate 80, which sees 86,000 VPD, making it a highly centralized and convenient location. Additionally, it is positioned as an outparcel to a Sam’s Club anchored center. The immediate area features prominent national tenants, including Walmart...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chick-fil-A
  • Guarantor:Corporate
  • Company:Chick-fil-A Inc.
  • # Units:3,059
  • 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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