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15726466

1647 MS-1, Greenville, MS 38701

TL
LA LA 0995697308
The Lennox/Massell Companies LA
Listed by The Lennox/Massell Companies LA
$4,651,100
830 days on market
Updated 106 days ago

Chick-fil-A | Land & Building | Greenville, MS

Details
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 4,958
Cap Rate 5%
NOI $232,555
Occupancy 100%
Tenancy Single
Brand/Tenant Chick-fil-A
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 07/31/2039
Remaining Term 13.1
Rent Bumps Yes
Lease Options Thirteen, 5-year options
Price per SqFt $938
Broker Co-Op Yes
Year Built 2023
Acreage 1.550
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/01/2024
Occupancy Date 01/01/2023
Ground Lease No
Ownership Fee Simple Land & Building

4.80% Cap Rate

Marketing description

The Lennox/Massell Companies is pleased to present the opportunity to purchase the fee simple interest in an absolute net Chick-fil-A located in Greenville, Mississippi. The absolute net lease structure offers investors the opportunity to own a completely passive investment with zero landlord responsibilities. The 15 year primary term, with multiple renewal options and rent increases throughout, demonstrates commitment to the location and confidence in the market.

The 4,958 SF building was completed in 2023 with rent commencing in August 2024. The newly constructed building represents Chick-fil-A’s latest prototype including multiple drive-thru lanes to support extremely efficient customer service.

This recently completed build-to-suit is strategically situated as an outparcel to the Greenville Mall; home to Five Below, TJ Maxx Shoe Department and Belk. Other area retailers include Lowe’s, Walmart, Kroger, Harbor Frieght, Petsense by Tractor Supply, Taco Bell, McDonald’s and Sherwin Williams.

Chick-fil-A fronts Highway 1 with traffic counts of 22,000+ VPD according to MDOT. In addition to being centered in a dense concentration of single family and multi-family housing, this site is also in close proximity to Akin Elementary, Washington School and Greenville High School with more than 2,000 students enrolled. Directly across the street is the Elwyn Watts Recreation Center and the Hodding Carter Memorial YMCA. All of these critical mass factors make this another ideal location for Chick-fil-A.

Investment highlights

  • 14.7 years of term remaining

  • Thirteen, 5-year options

  • 10% rent increases every 5 years throughout

Listing Contacts

TL
LA LA 0995697308
The Lennox/Massell Companies LA
Listed by The Lennox/Massell Companies LA

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Loan Amount
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Annual Debt Service
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$232,555.00
$19,379.58/mo

Valuation Metrics

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DSCR
5%
Cap Rate
5%
ROI

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