Listed by CBRE - Des Moines
$3,831,020
Slim Chickens Restaurant
Details
Property Type Retail
Sub Type Restaurant, QSR/Fast Food
Square Footage 2,772
Cap Rate 6.00%
NOI $229,861
Tenancy Single
Lease Type NNN
Lease Term 15
Lease Expiration 01/31/2040
Rent Bumps Yes
Year Built 2024
Acreage 1.410
Zoning C-1, City of Waukee
Investment Type Net Lease
Retail | 6.00% CAP | 2,772 SqFt
Marketing description
CBRE is the exclusive advisor for the sale of the NNN leased Slim Chickens restaurant located at 965 SE Alice's Road in Waukee, Iowa. The restaurant is located on Alice's Road - one of the busiest retail corridors in the Des Moines Metro and within the #1 fastest-growing large city in the State of Iowa.
For more information, please visit our listing website here:
Investment highlights
- Newly constructed in 2024
- NNN leased Slim Chickens restaurant
- Located on Alice's Road - one of the busiest retail corridors in the Des Moines Metro
- Within the #1 fastest-growing large city in the State of Iowa
- 18,758 vpd on SE Alice's Road & SE University Avenue
- Minutes away from newly constructed Target store & the Waukee Towne Center development, Waukee High School, Hy-Vee Grocery Store, Fareway Meat & Grocery, Aldi, Starbucks, and a myriad of other retail & restaurant establishments
- 15 year lease term expiring January 31, 2040
- (6) 5-year options to renew with 5% Base Rent increases at the beginning of each option
- Base Rent increases 5% at the beginning of years 6 and 11
- Personal lease guarantee
- Franchisee operates 20+ separate QSR franchise locations
- Average Unit Sales Volume: $2.4 Million
- Average Unit Sales Volume (top quartile): $3.6 Million
- 320+ locations open with 1,000+ units in development
- 25% development growth
Listing Contacts
Listed by CBRE - Des Moines
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$229,861.00
$19,155.08/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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