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Views: 100 Updated: 05.07.24 Posted: 09.27.23 Status: Sold

Summary

Price $4,375,000
Built/Renov 2023
Tenant Chick-fil-A (GL)
Cap Rate 4.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,500
Lease Start 01-01-2024
#Units 2,806
Price/SF $972.22
Expiration 12-31-2039
Tenant Type Fast Casual/Rest.
NOI $175,000
R. Term 15.5
Ownership Ground Lease
Rent/SF $38.89
Increases 10.0%/5/yrs
Pop 5Mi 112,703
Lot/AC 1.48
Options 6/5yrs/10%
AHHI 5Mi $122,129

Lease Highlights

  • The brand-new state-of-the-art property is slated to open in January 2024
  • The tenant, Chick-fil-A, Inc recently signed a brand new 15-year ground lease with 6 (5-year) options to extend
  • The lease features 10% rental increases every 10 years throughout the initial term and at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Chick-fil-A is strategically located at the signalized, hard corner intersection of Ocotillo Rd and Ironwood Rd, averaging a combined 52,600 vehicles passing by daily. The building is equipped with a double drive-thru, providing ease and convenience for customers. The asset is in close proximity to multiple nearby national/credit tenants that include Safeway, Walgreens, Circle K, O’Reilly Auto...

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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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