Chick-fil-A | New 15yr Corp Abs NNN | DrThru

5,174 SF | Retail Building | Penitas, TX 78576 | $6,260,000 ($1,210/SF) | 4.40% Cap Rate

Date Added:
May 17, 2024
Days on Market:
28 days

Asking Price $6,260,000

Property Type
Retail, Restaurant
Square Feet
5,174 SF
Price / Square Foot
$1,210

Listing Contacts

Patrick Luther
Patrick Luther
Verified Profile
Matthew Mousavi
Matthew Mousavi
Verified Profile
  • Property Info

Property Overview

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-thru equipped Chick-fil-A investment property located in Penitas, Texas. The tenant, Chick-fil-A, Inc recently signed a brand new 15 year lease with 13 (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 an out of state investor.

Property Details

Year Built
2023
Stories
1
Property Subtype
Freestanding
Lot Size (sq. ft)
73,181 SF

Highlights

  • Brand New 15-Year Lease | Corporate Signed | Scheduled Rental Increases
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Walmart Anchored Center (244,000 SF) | Drive-Thru Equipped |Fast Food Hot Spot | Primary Retail Corridor
  • Strong Demographics in 5-Mile Trade Area

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