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Views: 89 DOM: 253 Updated: 05.17.24 Posted: 10.03.23 Status: Active

Summary

Price $3,107,000
Built/Renov 2022
Tenant Dave's Hot Chicken
Cap Rate 5.15%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,153
Lease Start 12-01-2023
#Units 1
Price/SF $985.41
Expiration 11-30-2038
Tenant Type Fast Food/QSR
NOI $160,000
R. Term 14.5
Ownership Fee Simple
Rent/SF $50.75
Increases 10.0%/5/yrs
Pop 5Mi 293,980
Lot/AC 0.41
Options 4/5yrs/10%
AHHI 5Mi $94,166

Lease Highlights

  • New 2022 construction with brand-new improvements and pickup window
  • Tenant will execute a new 15-year lease with 4 (5-year) options to extend at close of escrow
  • Lease features 10% rental increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Franchisee guaranteed
  • Income tax free state

Location Description

This newly constructed Dave's Hot Chicken property is strategically located on Cockrell Ave which sees a daily traffic count of 22,028 vehicles. The subject property is conveniently situated adjacent to the Texas Christian University (TCU) college campus. Positioned in a high-barrier-to-entry trade area, it benefits from its close proximity to TCU student dorms, residences, and the TCU student...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dave's Hot Chicken
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:1
  • Stock:Private

About Tenant

Dave’s Hot Chicken is an American fast casual restaurant chain specializing in Nashville-style hot chicken. Arman Oganesyan and best friend Chef Dave Kopushyan, along with brothers Tommy and Gary...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 17,507 116,880 304,836
2023 Total Population : 17,409 115,503 298,636
2023 Employed Civilian Pop : 7,633 54,481 138,989
2023 Total Businesses : 590 6,023 14,772
2023 Average Household Income : $ 108,411 $ 99,884 $ 93,374
2023 Total Consumer Spending : $ 507 M $ 3670 M $ 9411 M
2023 Median Age : 24 34 35
2023 Total Households : 5,378 42,105 115,264
2023 Pop Age 25+: Bachelor's Degree : 2,680 18,037 44,437
2023 Average Home Value : $ 423,444 $ 353,081 $ 346,084
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Berry St Cockrell Ave 2009 21,820 0.04 mi
S University Dr W Berry St 2009 15,380 0.08 mi
W Berry St S University Dr 2009 19,110 0.10 mi
W Devitt St Rogers Ave 2008 180 0.20 mi
S University Dr W Lowden St 2009 22,240 0.23 mi
W Devitt St Odessa Ave 2008 204 0.26 mi
Princeton St Greene Ave 2008 2,160 0.34 mi
Stadium Dr Bellaire Dr N 2009 8,420 0.35 mi
McCart Ave W Devitt St 2004 4,580 0.37 mi
W Berry St Pond Dr 2009 18,110 0.40 mi

Listing Broker

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