Chick-fil-A | New 15yr Corp Abs NNN | DrThru 502 E FM 700 4,930 SF Retail Building Big Spring, TX 79720 $6,537,000 ($1,325.96/SF) 4.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 15-Year Lease | Scheduled Rental Increases | Well-Known & Established Tenant | Options to Extend
- Strong National/Credit Tenants | Dense Retail Corridor |Adjacent to Walmart Anchored Center | Dense Retail Corridor
- Strong Demographics in 5-mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities | Income Tax Free State
- Signalized, Hard Corner Intersection | Nov. 2023 Grand Opening | Brand New Construction | Drive-Thru Equipped
EXECUTIVE SUMMARY
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 FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,930 SF
Building Class
B
Year Built
2023
Price
$6,537,000
Price Per SF
$1,325.96
Cap Rate
4.75%
NOI
$310,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
2.80 AC
Zoning
LC - Light Commercial
Parking
51 Spaces (15.62 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Freeway Visibility
- Signage
- Signalized Intersection
- Drive Thru
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Chick-fil-A
- Accommodation and Food Services
-
99,999 SF
- -
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Lorem Ipsum
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Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Chick-fil-A | Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 295494 | Improvements Assessment | $0 |
| Land Assessment | $521,047 | Total Assessment | $521,047 |
