Chicken Express, Angleton, Texas

96 Cannan Dr no-imageVIEW MAP

Property Information

Price: $1,858,938
Cap Rate: 6.50%
NOI: $120,831
Lease Term: 20 Years
Lease Type: Absolute NNN Lease
Building Size: Approximately 2,940 Square Feet
Year Built: 2016
Status: Available
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
  • High Quality Asset Featuring All Brick and Stone Exterior – a Modern and Aesthetically Pleasing Property
  • Intrinsic Value – Large Format Restaurant at 2,940 Square Feet on a Sizeable 1.15 Acre Parcel with 32 Parking Spaces and a 15-Car Stack Drive-Thru Bay, Providing Chicken Express with the Ability to Effectively Handle High Customer Volume
  • High Traffic Location – More Than 9,500 Vehicles Per Day on Canna Drive & Over 23,000 Vehicles Per Day on N. Velasco Street (TX-288 Business)
  • Ideal Demographics – Over 26,500 People within a 5-Mile Radius of the Property with Average Household Income Exceeding $139,000 within a 1-Mile Radius
  • Located Directly Across from a Kroger-Anchored Retail Center That Has Seen More Than 2 Million Visits Over the Last Calendar Year and Adjacent to a Walmart Supercenter That Has Seen More Than 1.55 Million Visits Over the Last Calendar Year
  • Over 7.3 Million Square Feet of Retail & Restaurant Space and 390,000 Square Feet of Industrial & Office Space within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 1,000 Businesses and 8,700 Employees
  • Approximately 42-Miles from Downtown Houston – The 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