Moncks Corner, SC - Slim Chickens

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Slim Chickens investment property located in Moncks Corner, South Carolina. The franchisee, Chandler Restaurant Group, LLC, has over 12 years of initial lease term remaining with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 6% 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. Chandler Restaurant Group, LLC is an established operator of fast casual/quick-service restaurants. The company currently operates 38 Firehouse Subs locations. Branching into Slim Chickens in 2022, Chandler Restaurant Group plans to open 8 more Slim Chickens locations throughout Myrtle Beach, Charleston, and Florence, SC. Slim Chickens has over 300 locations opened and a fanatical following in 34 U.S. states.

Slim Chickens is located near the signalized, hard corner intersection of U.S. Highway 52 and Rembert C. Dennis Blvd, with a combined 50,900 vehicles passing by daily. The property will features a unique footprint with a dual-lane drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The asset is located near Tail Race Crossing, a Walmart Supercenter anchored center with other national/credit tenants including Chick-fil-A, Jersey Mike’s, Wendy’s, Zaxby’s, Verizon, and many others. Located in a dense retail corridor, Slim Chickens is within close proximity to a variety of national/credit tenants including Tractor Supply, Food Lion, Starbucks, Applebee’s, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the asset is ideally situated within walking distance from the Epson Oaks Apartment Homes, a 3-story apartment complex with over 70 units, providing a direct consumer base to draw from. The immediate trade area is supported by more than 22,400 residents and 10,300 daytime employees with an average household income of $97,369 within 1 mile.

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