Fredericksburg, TX - Chick-fil-A

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Chick-fil-A investment property located in Fredericksburg, Texas. The tenant, Chick-fil-A, recntly signed a brand new 15 year lease with 13 (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.

The Chick-fil-A is located at the signalized, hard corner intersection of S Washington Street and Friendship Lane, combining to average more than 10,700 vehicles passing by daily. Friendship Lane is a major retail thoroughfare serving the city of Fredericksburg. The property is adjacent to a Fairfield Inn (78 keys) and McLane Ford, a 30,000+ square foot Ford dealership serving the community of Fredericksburg. The site is also adjacent to a Discount Tires, increasing consumer traffic. The asset
is located approximately 1 mile from a 159,000+ square foot Walmart Supercenter and a 68,000+ square foot shopping center that features Dollar Tree, Anytime Fitness, Bealls, and several local tenants. The property is in the center of a primary retail corridor with other nearby national/credit tenants including H-E-B, McDonald’s, Whataburger, Burger King, Starbucks, AutoZone Auto Parts, O’Reilly Auto Parts, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 15,934 and over 10,940 employees with an affluent average household income of $102,459.