Chico, CA - 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, new construction, drive-thru equipped, Chick-fil-A investment property located in Chico, California. The tenant, Chick-fil-A, Inc., recently signed a brand new 15 year lease with 3 (5-year) and 1 (4-year and 11-months) 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, 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. Chick-fil-A is a premier fast-food brand with 3,350+ locations across the country.

The subject property will benefit from exceptional visibility and direct access off E. 20th Street (69,000+ VPD), a primary thoroughfare from State Highway 99
(79,000+ VPD), a heavily trafficked commuter corridor serving Northern California, capturing both local and regional commuter flow throughout the trade area. The site is located at the core of Chico’s primary retail node, supported by 1.6 million+ square feet of retail within a half-mile radius. The surrounding corridor includes high-traffic retail destinations such as Chico Marketplace (5.6M+ annual visits - Placer.ai) and Chico Crossroads (1.5M+ annual visits), and is strategically positioned between Target and Walmart, which together generate 4M+ annual visits, driving consistent consumer traffic. Additional national retailers in the immediate vicinity include Costco, World Market, Best Buy, and WinCo Foods, and national QSR brands such as In-N-Out Burger and Raising Cane’s, creating significant crossover traffic and reinforcing the area as Chico’s premier retail concentration. Located approximately two miles from California State University, Chico, with 15,000+ students, the property benefits from a steady base of student, faculty, and employee demand supporting quick-service dining and convenience retail. The 5-mile trade area encompasses over 101,200 residents and 48,700 employees with an average household income of $95,361, providing a built-in consumer foundation. The Chico market continues to experience measured population growth and ongoing infill development, with ample opportunity for additional commercial and residential expansion to accommodate rising regional demand.

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Listing ID: a28TP000001zXEbYAM