Chicken Express | New 15 Yr Abs NNN SLB
2,518 SF | Retail Building | Sherman, TX 75090 | $3,137,000 ($1,246/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,137,000
- Property Type
-
Retail
- Square Feet
- 2,518 SF
- Price / Square Foot
- $1,246
Listing Contacts
Jake Prater
Verified Profile
Matthew Mousavi
Verified Profile
Patrick Luther
Verified Profile
- Property Info
Property Overview
Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN Sale-Leaseback, freestanding, Chicken Express investment property located in Sherman, Texas. The tenant, Chicken Express, will enter into a brand new 15 year lease at COE with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Chicken Express, Distribution (CEFS), is headquartered in Burleson, Texas and has over 250 locations in Texas, Arkansas, Louisiana and Oklahoma.
Property Details
- Class
- C
- Year Built
- 2006
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 18,731 SF
Highlights
- 15-Year Sale-Leaseback | Scheduled Rental Increases | Growing Brand | Options to Extend
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area | Direct Consumer Base
- Sherman Town Center (1.013M SF) | Sherman Commons (317K SF) |Dense Retail Corridor |
- 15-Year Sale-Leaseback | Scheduled Rental Increases | Growing Brand | Options to Extend
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