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Views: 52 DOM: 94 Updated: 11.15.24 Posted: 08.30.24 Status: Active

Summary

Price $3,922,000
Built/Renov 2002
Tenant Chicken Express
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,249
Lease Start 12-01-2024
#Units 250
Price/SF $1,207.14
Expiration 11-30-2039
Tenant Type Fast Food/QSR
NOI $235,354
R. Term 15.0
Ownership Fee Simple
Rent/SF $72.44
Increases 10.0%/5/yrs
Pop 5Mi 40,117
Lot/AC 0.00
Options 3/5yrs/10%
AHHI 5Mi $122,553

Lease Highlights

  • Brand new 15-year sale-leaseback with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Franchisee guaranteed lease

Location Description

Chicken Express is strategically located on N Stewart St, a major retail thoroughfare with access to 7,800 vehicles passing by daily. The property benefits from nearby direct on/off ramp access to State Highway 199, which sees 32,900 VPD. Additionally, it is an outparcel to Lake Plaza and just south of a Walmart Supercenter-anchored center featuring well-known national tenants, including...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chicken Express
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:250
  • Stock:Private

About Tenant

Chicken Express is a fast-food chain known for its fried chicken, chicken tenders, catfish, and various Southern-style side dishes. The restaurant emphasizes quick service, quality food, and...


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Listing Broker

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