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Slim Chickens
601 West Northland Avenue, Appleton, WI 54911
$2,522,000
Cap Rate 6.00%
Summary
| Price $2,522,000 | Built/Renov 1995/2023 | Tenant Slim Chickens |
| Cap Rate 6.00% | Lease Type
Abs NNN | Guarantor Franchisee |
| Size/SF
3,042
| Lease Start
02-01-2023
| #Units
9
|
| Price/SF $829.06 | Expiration
01-31-2038
| Tenant Type Fast Casual/Rest. |
| NOI $151,340 | R. Term 14.1 | Ownership Fee Simple |
| Rent/SF
$49.75
| Increases 10.0%/5/yrs | Pop 5Mi 136,554 |
| Lot/AC 0.77 | Options 3/5yrs/10% | AHHI 5Mi $83,343 |
| | |
Lease Highlights
- Extensive 2023 renovations
- Slim Chickens recently signed a long-term 15-year lease with 3 (5-year) options to extend
- Lease features 10% rental increases every 5 years throughout the inital term and at the start of each option
- Absolute NNN lease | Zero landlord responsibilities
- Lease guaranteed by PREL Investments Inc.
Location Description
This newly reconstructed Slim Chickens is situated on Northland Avenue with a daily traffic count of 22,000 vehicles passing by daily. The subject property offers multiple points of access and is conveniently located at a recently added roundabout intersection, which sees a high traffic volume of over 40,000+ VPD. This prime location is part of a strong retail corridor that is within close...
...Features
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Recent renovation
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Roof guarantee
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Near major nationals
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Strong tenant synergy
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Dense 100M+ pop 5 mi
-
Affluent suburb location
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Brand new lease
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Long 15+ yr lease
-
Absolute NNN
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Personal guarantee
...
Maps
Tenant
- Tenant: Slim Chickens
- Guarantor:Franchisee
- Company:PREL Investments Inc.
- # Units:9
- Stock:Private
About Tenant
Slim Chickens fast-casual restaurant chain that specializes in hand-breaded chicken tenders, wings, chicken and waffles, chicken sandwiches, salads, wraps and more. In 2003, the first corporate...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 13,421 | 71,845 | 140,269 |
| 2023 Total Population : | 13,538 | 71,476 | 138,954 |
| 2023 Employed Civilian Pop : | 7,024 | 38,785 | 75,015 |
| 2023 Total Businesses : | 502 | 3,144 | 5,672 |
| 2023 Average Household Income : | $ 90,344 | $ 94,016 | $ 94,444 |
| 2023 Total Consumer Spending : | $ 456 M | $ 2436 M | $ 4775 M |
| 2023 Median Age : | 42 | 39 | 39 |
| 2023 Total Households : | 5,843 | 29,916 | 58,484 |
| 2023 Pop Age 25+: Bachelor's Degree : | 2,042 | 12,134 | 23,371 |
| 2023 Average Home Value : | $ 228,900 | $ 265,472 | $ 264,765 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| W Northland Ave | N Abendroth St | 2016 | 19,900 | 0.02 mi |
| West Northland Avenue | N Richmond St | 2019 | 21,600 | 0.05 mi |
| North Richmond Street | W Weiland Ave | 2019 | 18,400 | 0.10 mi |
| N Richmond St | W Weiland Ave | 2019 | 5,800 | 0.17 mi |
| N Richmond St | W Ridgeview Dr | 2019 | 17,100 | 0.18 mi |
| Northland Ave | N Bennett St | 2016 | 18,200 | 0.27 mi |
| North Oneida Street | E Northland Ave | 2019 | 6,200 | 0.41 mi |
| North Oneida Street | E First Ave | 2019 | 2,400 | 0.41 mi |
| Oneida St | E McArthur St | 2007 | 8,100 | 0.43 mi |
| W Glendale Ave | N Erb St | 2019 | 2,400 | 0.44 mi |
