502 Fm 700, Big Spring, TX 79720
4,930 SF | Retail Building | Big Spring, TX 79720 | $6,763,000 ($1,372/SF) | 4.40% Cap Rate
For Sale
Active
Asking Price $6,763,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 4,930 SF
- Price / Square Foot
- $1,372
Listing Contacts
- 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 a freestanding, corporate signed, drive-thru equipped, absolute NNN, Chick-fil-A investment property located in Big Spring, Texas. The tenant, Chick-fil-A, Inc. recently signed a brand new 15-year lease with 13 (5-year) options to extend, demonstrating their long-term 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 in an income tax free state. Founded in 1967, Chick-fil-A serves freshly prepared food in more than 2,700 restaurants in 47 states, Washington, D.C., and Canada. Slated to open in November of 2023, the site will feature brand new construction, a modern design, and first-class amenities.
Property Details
- Year Built
- 2023
- Stories
- 1
- Lot Size (sq. ft)
- 121,968 SF
Highlights
- Brand New 15-Year Lease | Scheduled Rental Increases | Well-Known & Established Tenant | Options to Extend
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities | Income Tax Free State
- Strong National/Credit Tenants | Dense Retail Corridor |Adjacent to Walmart Anchored Center | Dense Retail Corridor
- Signalized, Hard Corner Intersection | Nov. 2023 Grand Opening | Brand New Construction | Drive-Thru Equipped
- Strong Demographics in 5-mile Trade Area
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