Sanford, FL - Chick-fil-A

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, drive-thru equipped, corporate signed, Chick-fil-A investment property located in Sanford, FL (Orlando MSA). The tenant recently signed a brand new 15-year lease with 10 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features 8% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities, making this an ideal, management- free investment opportunity for a passive investor. The property, which is scheduled to open in Q4 2024, features a state-of-the-art design using the highest-grade materials available. Founded in 1967, Chick-fil-A is among the leading quick service chains with over 2,700 operating restaurants.

Chick-fil-A is strategically located near the signalized, hard corner intersection of State Highway 46 and International Parkway, averaging a combined 48,800 vehicles passing by daily. The site benefits from nearby access onto Interstate 4 (131,000 VPD), making this a centralized location with easy commutes for both employees
and customers. Chick-fil-A is ideally situated within a dense trade area and is within proximity to Towne Center Plaza (87K+ SF), Gateway Plaza (229K+ SF), Seminole Towne Center (632K+ SF), and other major shopping centers. The surrounding national/credit tenants include Walmart Supercenter, Best Buy, Target, Publix, BJ’s, ALDI, AutoZone, and others. The strong tenant synergy increases consumer draw to the immediate trade area, promotes crossover store exposure, and supports the local economy. Furthermore, the subject is near numerous single-family communities and multi-family complexes including Bell Lake Forest (209 units), Viridian Reserve (260 units), Integra Crossings (348 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 106,300 residents and 59,000 daytime employees. Residents within 1-, 3-, and 5-miles of the site boast an affluent average household income of $117,311, $127,626, and $116,918, respectively.