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25420067
25420070

1406 N Richmond Rd, Wharton, TX 77488

RB
TX TX 632534
Real Capital Investments
DO
698264
Real Capital Investments
Listed by Real Capital Investments
$1,945,013
320 days on market
Updated 91 days ago

Chicken Express

Details
APN 10222-000-001-00
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 2,546
Units 1
Cap Rate 8%
NOI $155,601
Occupancy 100%
Tenancy Single
Brand/Tenant Chicken Express
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 07/31/2044
Remaining Term 18.2
Rent Bumps Yes
Lease Options Four (4) Additional (5-Year) Options
Price per SqFt $764
Broker Co-Op Yes
Class A
Year Built 2007
Year Renovated 2016
Buildings 1
Stories 1
Acreage 1.060
Zoning Commercial F-1
Parking Spaces 33 spaces
Parking Per SqFt 12.96
Investment Type Net Lease
Lease Commencement 07/30/2024
Ground Lease No
Ownership Fee Simple
Sale Condition For sale by owner

Chicken Express QSR in Texas

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

Listing Contacts

RB
TX TX 632534
Real Capital Investments
DO
698264
Real Capital Investments
Listed by Real Capital Investments

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$155,601.00
$12,966.75/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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Additional Information

Name
Randy Bell
License
TX 632534
Brokerage
Real Capital Investments
Title
Principal
Brokerage Address
4619 Insurance Lane
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