Chicken Express | New 15 Yr Abs NNN SLB | 5100 Davis Blvd
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Chicken Express | New 15 Yr Abs NNN SLB 5100 Davis Blvd
2,142 SF Retail Building North Richland Hills, TX 76180 $2,594,000 ($1,211/SF) 6% Cap Rate
Investment Highlights
- 15-Year Sale-Leaseback | Scheduled Rental Increases | Growing Brand | Options to Extend
- Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes | Direct Consumer Base
- Hard Corner Intersection | Interstate 820 & State Hwy 121 & 183 (378,000 VPD) | Excellent Visibility & Access
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- North East Mall (2,134,000 SF) | Dense Retail Corridor | Tarrant County College Northeast (12,000 students)
Executive Summary
SRS National Net 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 North Richland Hills, 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 Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,142 SF
Building Class
C
Year Built
2003
Price
$2,594,000
Price Per SF
$1,211
Cap Rate
6%
NOI
$155,640
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Land Acres
0.55 AC
Zoning
PD - Planned Development
Parking
17 Spaces (7.94 Spaces per 1,000 SF Leased)
Frontage
103 FT on Davis Blvd
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $334,612 | |
| Land Assessment | $643,388 | Total Assessment | $978,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$643,388
Improvements Assessment
$334,612
Total Assessment
$978,000
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Jake Prater -
Power Broker Matthew Mousavi -
Power Broker Patrick Luther -
SRS National Net Lease
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Chicken Express | New 15 Yr Abs NNN SLB | 5100 Davis Blvd
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