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Views: 69 DOM: 200 Updated: 05.03.24 Posted: 10.30.23 Status: Active

Summary

Price $7,531,000
Built/Renov 2023
Tenant Chick-fil-A
Cap Rate 4.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,947
Lease Start 11-01-2023
#Units 2,806
Price/SF $1,522.34
Expiration 11-01-2038
Tenant Type Fast Casual/Rest.
NOI $320,065
R. Term 14.5
Ownership Fee Simple
Rent/SF $64.70
Increases 10.0%/6/yrs
Pop 5Mi 33,415
Lot/AC 3.24
Options 13/5yrs/10%
AHHI 5Mi $56,753

Lease Highlights

  • Brand new 2023 construction
  • Chick-fil-A, Inc. recently signed a brand-new 15-year lease with 13 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

This newly constructed Chick-fil-A, equipped with a drive-thru, is strategically located at the signalized, hard corner intersection of South Olive Street and Interstate 530, which serves over 43,000 vehicles per day. Furthermore, the site also benefits from nearby access to State Highway 530 (5,300 VPD), making this a centralized location with easy commutes. Located in a dense retail...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chick-fil-A
  • Guarantor:Corporate
  • Company:Chick-fil-A Inc.
  • # Units:2,806
  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,448 16,907 31,728
2023 Total Population : 1,520 17,749 33,288
2023 Employed Civilian Pop : 648 7,414 13,066
2023 Total Businesses : 73 652 1,486
2023 Average Household Income : $ 68,375 $ 64,356 $ 62,117
2023 Total Consumer Spending : $ 42 M $ 440 M $ 780 M
2023 Median Age : 46 39 39
2023 Total Households : 719 7,784 14,258
2023 Pop Age 25+: Bachelor's Degree : 261 2,649 4,016
2023 Average Home Value : $ 187,956 $ 154,438 $ 137,660
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
530 S Olive St 2021 4,500 0.11 mi
US 63 S Olive St 2021 2,900 0.12 mi
530 S Olive St 2021 5,100 0.13 mi
US 63 S Olive St 2021 3,000 0.14 mi
South Olive Street Mallard Loop 2021 12,000 0.24 mi
S Olive St Mallard Loop 2017 15,000 0.34 mi
Ridgway Road S Olive St 2021 2,800 0.43 mi
530 S Olive St 2020 24,000 0.56 mi
South Olive Street S Main St 2021 12,000 0.58 mi
530 Sheffield Dr 2021 1,000 0.88 mi

Listing Broker

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