Slim Chickens
Retail | 6.25% CAP | 2,680 SqFt
Marketing description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Slim Chickens investment property located in Moncks Corner, South Carolina. The franchisee, Chandler Restaurant Group, LLC, has over 12 years of initial lease term remaining with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 6% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Chandler Restaurant Group, LLC is an established operator of fast casual/quick-service restaurants. The company currently operates 38 Firehouse Subs locations. Branching into Slim Chickens in 2022, Chandler Restaurant Group plans to open 8 more Slim Chickens locations throughout Myrtle Beach, Charleston, and Florence, SC. Slim Chickens has over 300 locations opened and a fanatical following in 34 U.S. states.
Investment highlights
- 12+ years of initial lease term remaining with 3 (5-year) options to extend, demonstrating their commitment to the site
- The lease features 6% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation
- Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
- No landlord responsibilities
- Ideal, management-free investment for a passive investor
- Slim Chickens has over 300 locations opened and a fanatical following in 34 U.S. states
- They brand plans to grow to over 600 restaurants over the next decade
- Chandler Restaurant Group, LLC is an established operator of fast casual/quick-service restaurants. The company currently operates 38 Firehouse Subs locations
- Branching into Slim Chickens in 2022, Chandler Restaurant Group plans to open 8 more Slim Chickens locations throughout Myrtle Beach, Charleston, and Florence, SC
- Slim Chickens is located near the signalized, hard corner intersection of U.S. Highway 52 and Rembert C. Dennis Blvd, with a combined 50,900 vehicles passing by daily
- Excellent visibility via significant street frontage and a large pylon sign
- Multiple points of ingress/egress
- The building will feature a unique footprint with a dual-lane drive thru, providing ease and convenience for customers
- On average, stores with drive-thrus experience higher sales than those without
- More than 22,400 residents and 10,300 employees support the trade area
- $97,369 average household income within 1 mile
- Located in a dense retail corridor, Slim Chickens is within close proximity to a variety of national/credit tenants including Walmart Supercenter, Tractor Supply, Walgreens, and more
- Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
- The asset is ideally situated within walking distance from the Epson Oaks Apartment Homes, a 3-story apartment complex with over 70 units, providing a direct consumer base to draw from
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