Chili's (GL)

1245 East State Highway 152, Mustang, OK 73064

$1,995,000

Cap Rate 5.76%

Views: 83 DOM: 148 Updated: 07.08.24 Posted: 04.23.24 Status: Active

Summary

Price $1,995,000	Built/Renov 2024	Tenant Chili's (GL)
Cap Rate 5.76%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 5,117	Lease Start 07-01-2024	#Units 1,605
Price/SF $389.88	Expiration 06-30-2034	Tenant Type Casual Dining
NOI $115,000	R. Term 9.9	Ownership Ground Lease
Rent/SF $22.47	Increases 10.0%/5/yrs	Pop 5Mi 67,012
Lot/AC 1.59	Options 4/5yrs/10%	AHHI 5Mi $105,090

Lease Highlights

Brand new 2024 construction
Chili's will be executing a brand new 10-year ground lease with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Minimal landlord responsibilities | Inquire with broker for lease abstract
Corporate guaranteed lease

Location Description

Chili’s is strategically located at the signalized, hard corner intersection of State Highway 152 and N Hunker Terrace, with access to a combined daily traffic count of 25,200 vehicles. State Highway 152 directly connects to John Kilpatrick Turnpike, Interstate 344, Interstate 40, Interstate 44, Interstate 35, and Interstate 240, acting as a beltway for Oklahoma City and connecting the MSA....

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Key Features

New construction
Dense retail corridor
Near major nationals
Highway location
Top 100 MSA
Affluent AHHI $100K 5 Mi
Brand new lease
Long 10+ yr lease
Traded and rated company
Corporate Guarantee

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Links

Chili's Wikipedia Chili's Wikipedia Mustang, Oklahoma Zip Code 73064 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chili's Grill & Bar
Guarantor:Corp T and Rated
Company:Brinker International, Inc.
# Units:1,605
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 :	3,213	35,010	73,152
2023 Total Population :	2,911	32,221	67,012
2023 Employed Civilian Pop :	1,464	16,698	34,612
2023 Total Businesses :	142	654	1,316
2023 Average Household Income :	$ 100,707	$ 101,735	$ 105,090
2023 Total Consumer Spending :	$ 92 M	$ 1008 M	$ 2143 M
2023 Median Age :	40	38	37
2023 Total Households :	1,071	11,534	23,783
2023 Pop Age 25+: Bachelor's Degree :	383	5,197	11,685
2023 Average Home Value :	$ 223,957	$ 243,673	$ 269,074

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
SW 74th St	N Hunker Ter	2011	23,212	0.02 mi
SW 74th St	N Hunker Ter	2011	20,200	0.11 mi
N Sara Rd	E Suera Ter	2015	5,030	0.45 mi
SW 74th St	N Maryella Ter	2017	22,300	0.52 mi
S Sara Rd	E Juniper Ln	2011	11,727	0.56 mi
S Morgan Rd	E Longview Ln	2015	2,650	0.57 mi
N Sara Rd	E Lea Ter	2006	2,400	0.58 mi
N Morgan Rd	Cottonwood Ter	2015	2,650	0.59 mi
OK 4	E Juniper Ln	2021	13,300	0.63 mi
North Sara Road	E Whispering Oaks Ter	2021	7,900	0.67 mi

Listing Broker

Michael Carter

SRS National Net Lease Group

Contact

33 Listings
3325 Views
3 Sold

Frank Rogers

SRS National Net Lease Group

Contact

34 Listings
3424 Views
3 Sold

Michael Carter

Michael Carter joined the National Net Lease Group as first vice president in the Detroit office in 2018. He specializes in the acquisition and disposition of single-tenant and multi-tenant net-leased investment properties. Michael joined SRS with seven years of retail investment sales experience. Prior to joining SRS, he served as senior director with his previous firm. Michael’s deep understanding of the net lease industry and constantly growing market knowledge has earned him several oppo

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Frank Rogers

Frank Rogers joined the National Net Lease Group as first vice president in the Detroit office in 2018. He specializes in the acquisition and disposition of single-tenant and multi-tenant net-leased investment properties. Frank joined SRS with more than five years of retail investment sales experience. At his previous firm, Frank was responsible for the management of his clients’ real estate portfolios across the nation, for which he advised them on the best course of action for their invest

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