Slim Chickens

601 West Northland Avenue, Appleton, WI 54911

$2,522,000

Cap Rate 6.00%

Views: 124 Updated: 03.26.24 Posted: 08.26.23 Status: Inactive

Summary

Price $2,522,000	Built/Renov 1995/2023	Tenant Slim Chickens
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,042	Lease Start 02-01-2023	#Units 9
Price/SF $829.06	Expiration 01-31-2038	Tenant Type Fast Casual/Rest.
NOI $151,340	R. Term 13.2	Ownership Fee Simple
Rent/SF $49.75	Increases 10.0%/5/yrs	Pop 5Mi 136,554
Lot/AC 0.77	Options 3/5yrs/10%	AHHI 5Mi $83,343

Jeff Lefko

Hanley Investment Group

Contact

Lease Highlights

Extensive 2023 renovations
Slim Chickens recently signed a long-term 15-year lease with 3 (5-year) options to extend
Lease features 10% rental increases every 5 years throughout the inital term and at the start of each option
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by PREL Investments Inc.

Location Description

This newly reconstructed Slim Chickens is situated on Northland Avenue with a daily traffic count of 22,000 vehicles passing by daily. The subject property offers multiple points of access and is conveniently located at a recently added roundabout intersection, which sees a high traffic volume of over 40,000+ VPD. This prime location is part of a strong retail corridor that is within close...

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Key Features

Recent renovation
Roof guarantee
Near major nationals
Strong tenant synergy
Dense 100M+ pop 5 mi
Affluent suburb location
Brand new lease
Long 15+ yr lease
Absolute NNN
Personal guarantee

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Links

Slim Chickens Wikipedia Slim Chickens Wikipedia Appleton, Wisconsin Zip Code 54911 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Slim Chickens
Guarantor:Franchisee
Company:PREL Investments Inc.
# Units:9
Stock:Private

About Tenant

Slim Chickens fast-casual restaurant chain that specializes 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 :	13,421	71,845	140,269
2023 Total Population :	13,538	71,476	138,954
2023 Employed Civilian Pop :	7,024	38,785	75,015
2023 Total Businesses :	502	3,144	5,672
2023 Average Household Income :	$ 90,344	$ 94,016	$ 94,444
2023 Total Consumer Spending :	$ 456 M	$ 2436 M	$ 4775 M
2023 Median Age :	42	39	39
2023 Total Households :	5,843	29,916	58,484
2023 Pop Age 25+: Bachelor's Degree :	2,042	12,134	23,371
2023 Average Home Value :	$ 228,900	$ 265,472	$ 264,765

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Northland Ave	N Abendroth St	2016	19,900	0.02 mi
West Northland Avenue	N Richmond St	2019	21,600	0.05 mi
North Richmond Street	W Weiland Ave	2019	18,400	0.10 mi
N Richmond St	W Weiland Ave	2019	5,800	0.17 mi
N Richmond St	W Ridgeview Dr	2019	17,100	0.18 mi
Northland Ave	N Bennett St	2016	18,200	0.27 mi
North Oneida Street	E Northland Ave	2019	6,200	0.41 mi
North Oneida Street	E First Ave	2019	2,400	0.41 mi
Oneida St	E McArthur St	2007	8,100	0.43 mi
W Glendale Ave	N Erb St	2019	2,400	0.44 mi

Listing Broker

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