Overview

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, drive-thru equipped Chick-fil-A investment property located in Bay City, Texas. The tenant, Chick-fil-A, Inc recently 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 an out of state investor. Lastly, the property will be equipped with a “Mobile Thru” lane, a new concept / initiative from Chick-fil-A that adds an additional lane solely for customers who place their order ahead via the Chick-fil-A app. This feature will optimize the experience for customers and make processes more efficient for the restaurant.

Chick-fil-A is located along 7th St, which averages 29,600 vehicles passing by daily and is the major retail thoroughfare serving the city of Bay City. The asset is complete with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The property is positioned just down 7th St from a Walmart anchored center that also features national/credit tenants including Anytime Fitness, Hibbett Sports, and Sally Beauty Supply. The asset is located within a dense fast-food hot spot, with other notable tenants including Burger King, Pizza Hut, McDonald’s, Whataburger, Domino’s, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Dollar General, Tractor Supply Co, Bealls Outlet, H-E-B, O’Reilly Auto Parts, Dollar Tree, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 21,600 residents and 6,900 Employees. Residents in a 1-mile radius have an average household income of $77,020.

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