502 E FM 700 - Fast Food FOR SALE


Big Spring, TX 79720
$6,900,000 USD
480-221-4221
502 E FM 700, Big Spring, TX for Sale
$6,900,000 USD
Fast Food - FOR SALE
1/5
null | 4.5% Cap Rate

502 E FM 700
Big Spring, TX 79720


HIGHLIGHTS

  • Brand New 15-Year Lease | Scheduled Rental Increases | Well-Known & Established Tenant | Options to Extend
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities | Income Tax Free State
  • Strong National/Credit Tenants | Dense Retail Corridor |Adjacent to Walmart Anchored Center | Dense Retail Corridor
  • Signalized, Hard Corner Intersection | Nov. 2023 Grand Opening | Brand New Construction | Drive-Thru Equipped
  • Strong Demographics in 5-mile Trade Area

OVERVIEW

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, corporate signed, drive-thru equipped, absolute NNN, Chick-fil-A investment property located in Big Spring, Texas. The tenant, Chick-fil-A, Inc. recently signed a brand new 15-year lease with 13 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 10% 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 in an income tax free state. Founded in 1967, Chick-fil-A serves freshly prepared food in more than 2,700 restaurants in 47 states, Washington, D.C., and Canada. Slated to open in November of 2023, the site will feature brand new construction, a modern design, and first-class amenities.

FOR SALE DETAILS

PRICE

$6,900,000 USD

PRICE/SF

$1,400 USD /SF

CAP RATE

4.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chick-fil-A | New 15yr Corp Abs NNN | DrThru

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.8 AC

LAND SF

121,968 SF

ZONING

LC

APN/PARCEL ID

51508001900

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.