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, drive-thru equipped, Chick N Max investment property located in Lufkin, Texas. The tenant, Houston to the Max, LLC, recently signed a brand new 15-year lease term with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 8% 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.

The Chick N Max is located along S First St, which averages 40,700 vehicles passing by daily and is the major retail thoroughfare serving the city Lufkin. 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 located in a parcel adjacent to a Walmart Supercenter and Sam’s Club anchored center. In addition, Chick N Max is located just across S First St from an Academy Sports + Outdoors and Burlington anchored center. The property is in the center of a primary retail corridor with other nearby national/credit tenants including The Home Depot, Lowe’s Home Improvement, Ross Dress For Less, Target, 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 43,200 and 31,700 employees. The 1-mile trade area has an average household income of $86,263.

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