Chili's Ground Lease
Corporate Chili's | Absolute NNN Ground Lease | 5.25% Cap Rate
Marketing description
Mid-America Real Estate – Wisconsin LLC is pleased to exclusively offer for sale a freestanding Chili's Grill & Bar located at 165 Crossroads Drive in Plover, Wisconsin. The Property is leased to Brinker Restaurant Corporation under an Absolute NNN Ground Lease, providing investors with a passive ownership opportunity backed by one of the nation's most recognizable casual dining operators. The tenant is responsible for real estate taxes, insurance, utilities, maintenance, repairs, and all property-level operating expenses.
The Property benefits from approximately six years of remaining lease term through June 30, 2032, following the tenant's recent exercise of its next five-year renewal option. Three additional five-year renewal options remain, each featuring 10% contractual rental increases, providing investors with long-term income growth.
Strategically positioned within Crossroads Commons, the Property is located in the premier retail corridor serving the Stevens Point and Plover trade area. The surrounding tenant mix includes Walmart Supercenter, Lowe's, Kohl's, Best Buy, TJ Maxx, Staples, McDonald's, and numerous additional national retailers that generate consistent consumer traffic throughout the corridor. Immediate access to Interstate 39 further enhances the Property's regional accessibility and long-term investment appeal.
Investment highlights
Absolute NNN Ground Lease with minimal landlord responsibilities
Leased to Brinker Restaurant Corporation, operator of Chili's Grill & Bar
Approximately 6 years of firm lease term remaining through June 30, 2032
Three remaining 5-year renewal options with 10% contractual rent increases
Tenant recently exercised its next renewal option, demonstrating long-term commitment to the location
Scheduled July 2027 annual NOI of $109,610
Located within Crossroads Commons, the dominant retail destination serving the Stevens Point and Plover trade area
Surrounded by Walmart Supercenter, Lowe's, Kohl's, Best Buy, TJ Maxx, Staples, McDonald's, and numerous national retailers
Immediate access to Interstate 39 with excellent regional connectivity
Nearly 20-year operating history at this location
Strong demographics with over 46,800 residents and 53,800 daytime employees within five miles
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