Nacogdoches, TX - Chili's

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Chili’s investment property located in Nacogdoches, Texas. The tenant, Chili’s, recently signed a brand new 10-year lease extension with no options to extend. The lease is absolute NNN with zero landlord responsibilities. The 2.46-acre parcel, which is zoned general business and located directly across from Stephen F. Austin University, is an ideal opportunity for a covered land play, as demand for student housing in the area is high and Chili’s lease contains no options to extend.

The asset is located at the signalized, hard corner intersection of North Street and Ellington Street which combine to average more than 21,600 vehicles passing by daily. North Street is the major retail thoroughfare serving the city of Nacogdoches and runs directly by the university. The subject property is located in the center of a dense retail corridor with other national/credit tenants such as Kroger, Raising Cane’s, Dutch Bros, Panda Express, Whataburger, Dunkin’, and many others. The asset is located in close proximity to several housing developments including the Ellington Court Apartments, Taliesin Apartments (116 units), Banita Creek Apartments (78 units), the Lofts at Nacogdoches (310 beds), and The Legends at Nacogdoches (549 beds). The asset is located directly across from Stephen F. Austin University, which has a student population of over 10,000. The 5-mile trade area is supported by a population of over 38,100 residents and 27,500 employees with an average household income of $70,280.

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