Listed by SRS Real Estate Partners New York
$2,306,000
Chick-fil-A
Details
APN 07-076-003-50
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 5,220
Units 67
Cap Rate 4.25%
NOI $98,000
Tenancy Single
Brand/Tenant Chick-fil-A
Lease Type NNN
Lease Term 15.1
Lease Expiration 04/30/2038
Remaining Term 11.8
Rent Bumps Yes
Lease Options 8 (5-Year)
Class A
Year Built 2022
Acreage 2.170
Zoning General Commercial (C-2)
Parking Spaces 67 spaces
Parking per 1,000 SqFt 12.84
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 04/01/2023
Ground Lease Yes
Ownership Leased Fee (Land Ownership)
Retail | 4.25% CAP | 5,220 SqFt
Marketing description
SRS Real Estate Partners is pleased to present a single tenant NNN ground lease investment opportunity featuring Chick-fil-A, Inc. at 2071 N Telegraph Road in Monroe, Michigan. The property features double drive-thru infrastructure, promoting efficient customer flow and supporting tenant performance. Strategically positioned at the signalized, hard corner intersection of N Telegraph Road (25,800 VPD) and Mall Road (7,800 VPD), the property is situated within a dense retail corridor directly adjacent to national brands including Panera, Crunch Fitness, Fifth Third Bank, and others, and just steps from major retail destinations including Walmart Supercenter, Hobby Lobby, Lowe's, and more.
Investment highlights
- Approximately 12 years of remaining primary term with (8) 5-year renewal options, providing stable in-place income and long-term extension potential
- 10% rental increases every 5 years during the primary term and at the beginning of each option period support NOI growth and provide a hedge against inflation
- The tenant, Chick-fil-A, Inc., is the corporate entity for Chick-fil-A, the third-largest QSR brand in the nation with more than 3,380 locations
- The property features double drive-thru infrastructure, promoting efficient customer flow and supporting tenant performance
- Tenant responsible for taxes, insurance, and maintaining all aspects of the premises
- No landlord responsibilities
- Ideal, management-free investment for an out-of-state, passive investor
- Situated within a dense retail corridor directly adjacent to national brands including Panera, Crunch Fitness, Fifth Third Bank, and others
- Just steps from major retail destinations including Walmart Supercenter, Hobby Lobby, Lowe's, and more
- Strategically positioned at the signalized, hard corner intersection of N Telegraph Rd (25,800 VPD) and Mall Rd (7,800 VPD)
- Surrounded by established residential communities including Landings at Cedar Creek Apartments (150 units) and Custer Estates Apartments (108 units), providing a direct residential consumer base
- More than 56,100 residents and 25,000 employees support the 5-mile trade area
- Average household income of $83,638 within the 5-mile trade area
Listing Contacts
Listed by SRS Real Estate Partners New York
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$98,000.00
$8,166.67/mo
Valuation Metrics
0
DSCR
4.25%
Cap Rate
4.25%
ROI
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