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Views: 108 Updated: 05.20.24 Posted: 05.24.23 Status: Inactive

Summary

Price $5,765,000
Built/Renov 2022
Tenant Chick-fil-A
Cap Rate 4.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,978
Lease Start 08-25-2022
#Units 2,806
Price/SF $1,158.10
Expiration 07-31-2037
Tenant Type Fast Casual/Rest.
NOI $245,000
R. Term 12.10
Ownership Fee Simple
Rent/SF $49.22
Increases 10.0%/4/yrs
Pop 5Mi 29,633
Lot/AC 1.85
Options 13/5yrs/10%
AHHI 5Mi $81,492

Lease Highlights

  • Brand-new 2022 construction
  • Chick-fil-A signed a new 15-year lease with 13 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
  • Absolute NNN lease with zero landlord responsibilities
  • Corporate guarantee by Chick-fil-A Inc. (2,800+ units)

Location Description

The subject property is prominently located with excellent access and visibility along FM 120 (15,229 AADT), just off Highway 75 (61,995 AADT), which is a major north-south arterial that connects the Dallas-Fort Worth metroplex to Oklahoma. The site benefits from robust demographics with a total daytime population of 31,966 and average household income of $81,492. There are a number of notable...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chick-fil-A
  • Guarantor:Corporate
  • Company:Chick-fil-A
  • # 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,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,078 22,145 30,034
2023 Total Population : 4,072 22,148 29,795
2023 Employed Civilian Pop : 1,510 9,402 12,929
2023 Total Businesses : 191 857 1,150
2023 Average Household Income : $ 85,025 $ 81,033 $ 83,650
2023 Total Consumer Spending : $ 130 M $ 637 M $ 876 M
2023 Median Age : 47 44 44
2023 Total Households : 1,743 8,972 11,975
2023 Pop Age 25+: Bachelor's Degree : 431 2,163 3,024
2023 Average Home Value : $ 284,906 $ 248,606 $ 258,915
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West FM 120 FM 120 2021 16,129 0.27 mi
West FM 120 Regency Ln 2020 15,229 0.27 mi
W Parnell St 2021 378 0.48 mi
North Highway 75 N Hwy 75 2021 7,471 0.50 mi
US 75 Ansley Blvd 2021 35,509 0.53 mi
Laurel St 2021 319 0.54 mi
Ansley Blvd 2021 6,896 0.55 mi
US Hwy 75 2021 332 0.61 mi
Katy Memorial Expressway N Hwy 75 2021 44,414 0.62 mi
S Lillis Ln 2021 4,788 0.68 mi

Listing Broker

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