Chick-fil-A, Livingston, Texas

1821 U.S. Hwy 190 no-imageVIEW MAP

Property Information

Price: $5,757,870

Cap Rate: 3.85%
NOI: $221,678.01
Lease Term: 15 Years
Lease Type: Absolute NNN
Building Size: Approximately 4,526 Square Feet
Year Built: 2021
Status: Under Contract
Lead Broker Information:

Randy Bell


Property Description

Investment Highlights

  • Brand New 15 Year Absolute NNN Lease – Stable Cash Flow Asset – Zero Landlord Responsibilities – Thirteen (5-Year) Options to Renew
  • 10% Rent Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
  • Corporately Guaranteed Lease by Chick-fil-A, Inc. – a Best in Class Tenant with Over $11 Billion in Annual Revenue and 2,400+ Locations in 47 States – Chick-fil-A is the Industry Leader in Average Unit Volume with Over $4.6 Million in Sales Per Location, Representing 67% More in Sales Per Location Than 2nd Place Panera Bread
  • New Construction, Pride of Ownership Asset Featuring Chick-fil-A’s Latest Prototype Design – a Modern and Aesthetically Pleasing Property
  • Intrinsic Value – Large Format Restaurant at 4,526 Square Feet on a Massive 1.565 Acre Parcel with Excellent Access & Visibility
  • Features a Double-Thru Bay with a 32 Car Stack and 67 Parking Spaces – Providing Chick-fil-A with the Ability to Handle Extremely High Restaurant Volume
  • Strong Demographics – Over 18,739 Residents with an Average Household Income Exceeding $78,950 in a 5-Mile Radius of the Property
  • High Traffic Location – Over 26,900 Vehicles Per Day on US-190 with an Additional 20,951 on Nearby US-59
  • Strategically Located in the Main Trade Area of Livingston – Surrounded by Many National Retailers Including Walmart, Taco Bell, McDonald’s & Burger King and is in a 3-Mile Radius of Eight Hotels That Have 448 Combined Rooms
  • Ideally Positioned Adjacent to a Walmart Supercenter, H-E-B, & Brookshire Brother’s Grocery Store, Bringing Daily Needs Consumers to the Immediate Trade Area
  • Approximately 3.5 Miles from the 66 Bed CHI St. Luke’s Memorial Hospital That Serves More Than 60,000 Patients Annually and Generated More Than $306 Million in Total Patient Revenue in 2020
  • Over 430,000 Square Feet of Industrial & Office and 1.3 Million Square Feet of Retail & Restaurant Space in a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 8,184 Employees
  • Within a 3-Mile Radius of Six Primary & Grade Schools That Have a Combined Enrollment of More Than 3,950 Students
  • Texas is an Income Tax Free State with a Strong Economy, Providing an Ideal Location for a 1031 Exchange Asset