Chicken Express, Wharton, Texas

1406 N. Richmond Rd no-imageVIEW MAP

Property Information

Price: $2,346,923
Cap Rate: 6.50%
NOI: $152,550
Lease Term: 20 Years
Lease Type: Absolute NNN Lease
Building Size: Approximately 2,546 Square Feet
Year Built: 2007/2016
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
  • Recently Rebranded to Chicken Express in 2024 – Previously Operated as a Fast-Food Chicken Restaurant Since 2007 – Long Operating History within the Market
  • Intrinsic Value – Large Format Restaurant at 2,546 Square Feet on a Sizeable 1.06 Acre Parcel with 33 Parking Spaces and a Drive-Thru, Providing Chicken Express with the Ability to Effectively Handle High Customer Volume
  • High Traffic Location – More Than 14,000 Vehicles Per Day on N. Richmond Rd and Over 17,000 Vehicles Per Day on E. Boling Highway
  • Ideal Demographics – Over 12,500 People within a 5-Mile Radius of the Property with Average Household Income Exceeding $76,000 Annually
  • Less Than 1-Mile from Wharton County Junior College with Over 6,000 Students Enrolled & More Than 350 Faculty Members
  • Over 3.2 Million Square Feet of Industrial & Office Space within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 500 Businesses & 4,800 Employees
  • Approximately 57-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