Chicken Express, Santa Fe, Texas

4210 FM-1764 no-imageVIEW MAP

Property Information

Price: $2,353,585
Cap Rate: 6.50%
NOI: $152,983
Lease Term: 20 Years
Lease Type: Absolute NNN Lease
Building Size: Approximately 3,246 Square Feet
Year Built: 2016
Status: Just Closed
Lead Broker Information:

Randy Bell

bell@realcapitalinvestments.com

214-380-3670
Marketing Package

Property Description

Investment Highlights

  • Brand-New 20 Year Absolute NNN Lease – Stable Cash Flow Asset – Zero Landlord Responsibilities – Four (5-Year) Options to Renew
  • Attractive 2% Annual Rental Increases Throughout the Initial Term and Option Periods, Providing Compounded Rent Growth and a Strong Hedge Against Inflation
  • Chicken Express was Founded in 1988 and Has More Than 250 Locations in Texas, Oklahoma, Arkansas and Louisiana – Established Quick Service Restaurant Chain with Strong Brand Awareness and Loyalty in its Home State of Texas
  • Personal Guaranty from a 10-Unit Operator with an Experienced Background in Restaurant Operations, Franchising, Real Estate and Logistics – Former McDonald’s Franchisee, Current Chicken Express Franchisee and FedEx Distribution Operator
  • Pride of Ownership Asset Featuring Chicken Express’s Latest Prototype Design – a Modern and Aesthetically Pleasing Property
  • Intrinsic Value – Large Format Restaurant at 3,246 Square Feet on a 0.837 Acre Parcel with 26 Parking Spaces & a 15 Car Stack Drive-Thru Bay, Providing Chicken Express with the Ability to Effectively Handle High Customer Volume
  • High Traffic Location – More Than 13,000 Vehicles Per Day on FM-1764 & Over 19,000 Vehicles Per Day on TX-6
  • Ideal Demographics – Over 43,000 People within a 5-Mile Radius with Average Household Income Exceeding $150,000 within a 1-Mile Radius of the Property
  • Strategically Located Across from Sante Fe Junior High School with More Than 1,000 Students Currently Enrolled and an HEB Grocery Store That Has Seen More Than 665,000 Visits During the Last Calendar Year
  • Over 2.5 Million Square Feet of Retail & Restaurant and 257,000 Square Feet of Industrial & Office Space within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 990 Businesses & 6,000 Employees
  • Approximately 35-Miles from Downtown Houston – Largest City in Texas and 4th Most-Populus City in the United States with a Population Exceeding 2.3 Million Residents – More Than 7.3 Million People Reside in the Greater Houston MSA
  • Texas is an Income Tax Free State with a Strong Economy, Providing an Ideal Location for a 1031 Exchange Asset