Chick-Fil-A Ground Lease For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30402566
Property Subtypes: Retail-Pad, Other
Building Size (RSF): 3,971 SF
Gross Building Area: See Agent
Gross Land Area: 1.02 Acres
Sale Price: $1,849,263
Unit Price: $465.69 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 4.75%
Last Updated: 4/17/2019

Overview / Comments

Unique Opportunity! TCI Group is pleased to offer for sale the fee simple interest in the single-tenant Chick-fil-A (the “Property” or “Asset”) leased on an absolute-NNN ground lease and located at 1205 East Stone Drive, Kingsport, TN. The third of seven five year ground lease renewals is currently in effect starting November 1, 2018 and runs to October 31, 2023. There are four 5-year renewals remaining. Outstanding performing Chick Fil A restaurant. Cap Rate is 4.75%. No landlord expense. Tenant pays all taxes, insurance, and maintenance. Financial and lease info available to qualified buyers.

When purchasing a Chick-fil-A ground-leased property, investors are buying the real estate upon which the Chick-fil-A restaurant sits. These ground-leased properties provide additional investment security given the nature of the real estate investment made by Chick-fil-A's real estate team.

Chick-fil-A is notorious for having strong franchised restaurant operators, proven by the fact that Chick-fil-A maintains a franchisee turnover rate of less than 5% per year. The company only accepts about 0.4% of the applicants who apply every year. For net lease investors, it is reassuring to know that Chick-fil-A NNN leases have a corporate guarantee by Chick-fil-A, Inc. Call agent to discuss this great opportunity!

Additional Details

Nearest MSA: Kingsport-Bristol-Bristol
County: Sullivan
Tax ID/APN: 082 046L A 00100 000 2017

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,244 43,784 66,702
Median Age: 43.99 43.32 43.85
Households: 2,662 19,307 29,133

Contact

© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Northeast Tennessee Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.