Chick-Fil-A Ground Lease For Sale
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||Net Leased Investment (NNN), Investment
||Cash to Seller
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!
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