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, corporate signed, Chick-fil-A investment property located in Marianna, FL. The tenant, Chick-fil-A, Inc., recently signed a brand new 15-year lease term with 13 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years during the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with no 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. Additionally, this property features state-of-the-art, brand new construction with modern design.

The property is located along State Highway 71, which averages 19,000 vehicles passing by daily and is a major retail thoroughfare serving the city of Marianna. The asset also has direct on/off ramp access to Interstate 10, a major east/west thoroughfare averaging 23,500 vehicles passing by daily. In addition, Chick-fil-A is located in a fast food corridor with other notable tenants including McDonald’s, Wendy’s, Burger King, Arby’s, Dunkin’, Pizza Hut, and more. The property is in the center of a primary retail trade area with other nearby national/credit tenants including a Walmart Supercenter, Lowe’s Home Improvement, Dollar Tree, and more, further increasing consumer traffic to the site. Strong tenant synergy promotes crossover shopping to the subject property. The 5-mile trade area is supported by a population of over 7,000 with an average household income of $61,188.

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