487 SAWMILL RD West Haven CT 06516-4045

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire a new construction Chick-fil-A located at 487 Saw Mill Road in West Haven, Connecticut (the “Property”). The free-standing single tenant Chick-fil-A consists of a 2,702 square foot building with a double drive thru. Chick-fil-A has a new 20-year Absolute NNN Ground Lease with eight (8), five-year renewal options. The lease calls for an attractive 10% rent increase in year 11 and at the start of each renewal option. The Property is currently under construction and has an anticipated rent commencement date of December 1, 2024.

The new construction Chick-fil-A is extremely well located along Saw Mill Road (CT Route 162). The Property enjoys outstanding visibility, frontage and signalized access and is positioned directly in front of Interstate 95’s exit 42 on-off ramp. The Property is part of a dominant trade area that is home to numerous national retailers and restaurants (including Walmart Supercenter, McDonald’s, 7-Eleven, Starbucks, Chipotle, Aspen Dental, Texas Roadhouse and Aldi), the West Haven Train Station, the VA Hospital and VA Connecticut Healthcare System Campus, Yale University West Campus, and major roadways including US Route 1 and Interstates 95, all of which drive traffic to the area. Additionally, the Property is within minutes of several area public and private schools, several colleges and universities, multiple nationally branded hotel/motels, and is surrounded by densely populated residential neighborhoods providing a built-in customer base.

NEW CONSTRUCTION GROUND LEASE: This is a new construction, new drive-thru/ pick-up concept Chick-fil-A. Chick-fil-A has a new 20-year Absolute NNN Ground Lease with eight (8), five-year renewal options. The Property is currently under construction and has an anticipated rent commencement date of December 1, 2024.

ATTRACTIVE RENT INCREASES: The Chick-fil-A ground lease calls for an attractive 10% rent increase in year 11 and at the start of each renewal option providing the investor with an attractive increase in revenue and hedge against inflation.

ZERO MANAGEMENT RESPONSIBILITIES: The Chick-fil-A Ground Lease is Absolute NNN and requires zero management responsibilities making it an attractive investment for the passive real estate investor.

DYNAMIC TENANT: Chick-fil-A generates more revenue per restaurant than any other fast-food chain in the country. Chick-fil-A continues to expand and now has more than 2,800 locations. Total system-wide sales have grown to $21.586 billion in 2023 a 14.7% increase over 2022 sales. This was the company’s 54th consecutive year of sales growth.

PRIME RETAIL LOCATION: The new construction Chick-fil-A is extremely well located along Saw Mill Road (CT Route 162). The Property enjoys outstanding visibility, frontage and access and is positioned directly in front of Interstate 95’s exit 42 on-off ramp. Chick-fil-A enjoys convenient access to several area public and private schools including the Notre Dame and West Haven High Schools, Yale University West Campus (1.5-miles), University of New Haven (1.75-miles), Gateway Community College (4-miles) and Yale University (4-miles). The Property is also close to several area hospitals and Downtown New Haven (4-miles).

STRONG TRAFFIC COUNTS: Over 26,300 vehicles per day pass the Property along Saw Mill Road (CT Route 162). Additionally, more than 142,100 vehicles pass near the Property along Interstate 95. Chick-fil-A enjoys pylon signage visible to the Interstate 95 traffic.

RETAIL TRADE AREA: Notable retailers drawing consumers to the trade area include Walmart Supercenter, Target, Stop & Shop, Shop Rite, Aldi, Kohl’s, Burlington, Savers, Ocean State Job Lot, Harbor Freight Tools, AutoZone, O’Reilly Auto Parts, Pep Boys, Town Fair Tire, Firestone, CVS, Dollar General, Texas Roadhouse, Chipotle, Starbucks, McDonald’s, Burger King, Wendy’s, Taco Bell, Quiznos, Subway, Dunkin’, and 7-Eleven.

DEMOGRAPHICS: Approximately 82,000 people live within 3-miles of the Property with an average household income of $102,659. More than 213,500 people live within 5-miles of the Property with an average household income of $109,223. Additionally, there are more than 110,200 employees within 5-miles of the Property.