3105 Cockrell Ave, Fort Worth, TX 76109

Faris Lee Investments is pleased to present the fee simple interest in a ‘trophy’ STNL Dave’s Hot Chicken property adjacent to the nationally recognized Texas Christian University (TCU) college campus in Fort Worth TX. Built in 2022, this property features Dave’s Hot Chicken’s newest pickup window prototype with ample seating and patio area for customers. The tenant will execute a brand new, 15-year absolute NNN lease, with 10% increases every five years at the close of escrow, which provides long-term security and hedges against inflation for an investor. Fort Worth TX was named the fastest growing city in the U.S. during 2021-2022, which adds to the already impressive intrinsic real estate value attributed to this Dave’s Hot Chicken property.
This subject property is located in a high-barrier-to-entry trade area near TCU student dorms, residences, and the TCU student store. TCU has over 12,000 students enrolled at the University (Average Tuition: $72,820) and 2,000 staff members supporting. Heavy foot traffic from students walking to classes, the campus recreation center, football games and more benefits this Dave’s Hot Chicken property. The University’s football stadium is within short walking distance from the subject property, and averages 46,500+ attendees on game days. In addition to the students supporting the trade area, the surrounding neighborhoods house more than 116,000 residents within just a 3-mile radius of campus. The nearby intersection of Berry Street and University Drive (+/- 35,000 VPD) marks the heart of lively trade area for the student body, visitors, and the local population.
The brand, Dave’s Hot Chicken, is ‘America’s Fastest Growing Restaurant Chain’ according to Technomic. This QSR chicken concept is growing through both same store sales increase as total unit count. In fact, the brand saw an astronomical 156% total sales growth in 2022 compared to 2021 and currently has 700+ locations in the U.S. and International development pipeline.