Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, drive-thru equipped, absolute NNN, Chick-fil-A investment property located in Pine Bluff, Arkansas. The tenant, Chick-fil-A, Inc., recently signed a brand new 15-year lease with 13 (5-year) options to extend, demonstrating their long-term 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. Founded in 1967, Chick-fil-A serves freshly prepared food in more than 2,700 restaurants in 47 states, Washington, D.C., and Canada. Slated to open in November of 2023, the site will feature a modern design and first-class amenities.

Chick-fil-A is strategically located at the signalized, hard corner intersection of South Olive Street and Interstate 530 which serves over 43,000 vehicles per day. Furthermore, the site also benefits from nearby access to State Highway 530 (5,300 VPD), making this a centralized location with easy commutes. Located in a dense retail corridor, the subject is within close proximity of multiple national/credit tenants including Walmart Supercenter, Hibbett Sports, Dollar General, Dollar Tree, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Moreover, the site
is ideally situated less than 2 miles south of Jefferson Regional Hospital (290 beds), further increasing consumer traffic to the subject trade area. The site will feature brand-new construction and be equipped with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The 5-mile subject trade area is supported by more than 33,000 residents and 22,000 daytime employees. Residents within a 1-mile radius earn an average household income of more than $70,000.

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