Mt. Pleasant, TX - Chick-fil-A

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, drive-thru equipped, Chick-fil-A investment property located in Mt Pleasant, 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, 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 serves freshly prepared food in more than 2,700 restaurants in 47 states, Washington, D.C., and Canada.

Chick-fil-A is located at the signalized, hard-corner intersection of N Jefferson Ave and U.S. Highway 67, which averages a combined 27,000 vehicles passing by daily. 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 asset is less than 2 miles north of Jefferson Park, a 130,000 square foot shopping center with major tenants including Super 1 Foods, Harbor Freight Tools, Anytime Fitness, and more. In addition, Chick-fil-A is located just south of Interstate 30, a major east/west traveling thoroughfare averaging 41,000 VPD. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Lowe’s Home Improvement, Family Dollar, Dollar General, Mcdonald’s, and more, further increasing consumer traffic to the site. Strong tenant synergy promotes crossover shopping to the subject property. The 5-mile local trade area is supported by a population of over 19,900 with an average household income of $71,966.