Chicken Express | New 15yr Abs NNN SLB 714 E Main St 5,678 SF Retail Building Allen, TX 75002 $2,800,000 ($493.13/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 15-Year Sale-Leaseback | Scheduled Rental Increases | Growing Brand | Options to Extend
- Dense Retail Corridor | Strong National/Credit Tenant Presence | Nearby Schools
- Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes | Direct Consumer Base
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Located Along E. Main St (34,200 VPD) | U.S. Hwy 75 (184,800 VPD)| Excellent Visibility | Office Space Included
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 Allen, 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. The offering also includes a 1,200 square foot office building that the seller uses as their headquarters.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
5,678 SF
Building Class
B
Year Built
2007
Price
$2,800,000
Price Per SF
$493.13
Cap Rate
5.75%
NOI
$160,915
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.31 AC
Zoning
PD - Planned Development
Parking
34 Spaces (5.99 Spaces per 1,000 SF Leased)
Frontage
283’ on E Main Street
AMENITIES
- Freeway Visibility
- Restaurant
- Signage
- Drive Thru
- Monument Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R-8202-000-0030-1 | Improvements Assessment | $825,096 |
| Land Assessment | $540,283 | Total Assessment | $1,365,379 |
