Chicken Express | 15yr Abs NNN SLB | 6765 Lake Worth Blvd
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Chicken Express | 15yr Abs NNN SLB 6765 Lake Worth Blvd
3,290 SF Retail Building Lake Worth, TX 76135 $2,800,000 ($851/SF) 5.94% Cap Rate
Investment Highlights
- 15-Year Sale-Leaseback | Scheduled Rental Increases | Growing Brand | Options to Extend
- Lake Worth Towne Crossing (431,000 SF) | Lake Worth Marketplace (219,000 SF) | Dense Retail Corridor
- Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes | Direct Consumer Base
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Lake Worth Blvd (42,900 VPD) | Interstate 820 (127,300 VPD) |Excellent Visibility & Access | Additional Adjacent Land Pand
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 Lake Worth, 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. Additional adjacent land parcel included in offering.
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
3,290 SF
Building Class
C
Year Built
2009
Price
$2,800,000
Price Per SF
$851
Cap Rate
5.94%
NOI
$166,303
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Land Acres
1.20 AC
Zoning
Planned Commercial - Planned Commercial
Parking
54 Spaces (16.41 Spaces per 1,000 SF Leased)
Frontage
176 FT on Lake Worth Blvd
Amenities
- Freeway Visibility
- Restaurant
- Signage
- Drive Thru
- Monument Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 41462114 | Improvements Assessment | $786,100 |
| Land Assessment | $413,900 | Total Assessment | $1,200,000 |
PROPERTY TAXES
Parcel Number
41462114
Land Assessment
$413,900
Improvements Assessment
$786,100
Total Assessment
$1,200,000
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Jake Prater -
Power Broker Matthew Mousavi -
Power Broker Patrick Luther -
SRS National Net Lease
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Chicken Express | 15yr Abs NNN SLB | 6765 Lake Worth Blvd
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