Chick-fil-A

2760 U.S. 331, DeFuniak Springs, FL 32435

$6,369,000

Cap Rate 4.00%

Updated: 10.20.23 Posted: 05.24.23 Status: Inactive

Summary

Price $6,369,000	Built/Renov 2023	Tenant Chick-fil-A
Cap Rate 4.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,131	Lease Start 07-01-2023	#Units 2,806
Price/SF $1,241.28	Expiration 06-30-2038	Tenant Type Fast Casual/Rest.
NOI $254,762	R. Term 13.2	Ownership Fee Simple
Rent/SF $49.65	Increases 10.0%/5/yrs	Pop 5Mi 10,984
Lot/AC 1.72	Options 13/5yrs/10%	AHHI 5Mi $73,212

Lease Highlights

Brand new 2023 construction
Chick-fil-A recently signed a brand 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 start of each option period
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by Chick-fil-A Inc.

Location Description

This newly constructed 5,131 square foot drive thru equipped Chick-fil-A is situated on a 1.72 acres lot just off of US-331 with access to 27,500 vehicles per day. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Lowe’s Home Improvement, Walgreens, Zaxby’s, McDonalds and more, further increasing consumer...

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Key Features

New construction
Major thoroughfare
Near major nationals
Highway location
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
Over 2000 units backed
Corporate Guarantee

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Links

Chick-fil-A Wikipedia Chick-fil-A Wikipedia Defuniak Springs, Florida Zip Code 32435 Broker Site Page

Maps

Local Information

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,...

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Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
United States Highway 331 N	Bob McCaskill Dr	2005	6,600	1.36 mi
US Highway 331 North	Walton Rd	2021	8,300	1.97 mi
County Highway 192	Crowder Rd	2021	550	2.43 mi
Shoemaker Drive	Walton Rd	2021	2,200	2.62 mi
County Highway 1883	Triple G Rd	2005	800	2.64 mi
Nelson Ave W	United States Hwy 331 N	2005	8,000	2.75 mi
State Highway 83	Clarks Landing R	2021	8,200	2.79 mi
Nelson Ave W	United States Hwy 331 N	2005	13,900	2.82 mi
US Highway 90 West	Rose Ln	2021	14,400	2.94 mi
Walton Road	Fallen Heroes Wa	2021	3,400	2.94 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
71115 Views
170 Sold

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
78104 Views
202 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
47353 Views
116 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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