5809 Franklin St - Fast Food FOR SALE


Michigan City, IN 46360
$2,811,000 USD
248-688-0630
5809 Franklin St, Michigan City, IN for Sale
$2,811,000 USD
Fast Food - FOR SALE
1/7
null | 4.5% Cap Rate

5809 Franklin St
Michigan City, IN 46360


HIGHLIGHTS

  • Brand New 15-Year Lease | Scheduled Rental Increases | Corporate Signed Lease | Well-Known & Established Brand
  • Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
  • Major Surrounding Shopping Centers | Dense Trade Area | Strong Tenant Presence | Direct Customer Base
  • Direct Residential Consumer Base | Demographics in 5-Mile Trade Area
  • Located Along Franklin Street | Centralized Location | Drive-Thru Equipped | Brand New Construction | Excellent Visibility

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to purchase the leased fee interest (land ownership) in an absolute NNN, drive-thru equipped, newly built, Chick-fil-A investment property located in Michigan City, IN (Chicago MSA). The tenant, Chick-fil-A, Inc., recently signed a brand new 15-year lease with 12 (5-year) option periods left to extend, demonstrating their long-term commitment to the site. The lease features 7.50% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1967, Chick-fil-A is among the most popular quick service chains in the United States with over 3,000 operating locations. Chick-fil-A is strategically located along Franklin Street with clear visibility and access to an average of 23,600 vehicles passing by daily. The property benefits from nearby access onto Interstate 94 (55,000 VPD), making it a centralized location with easy commutes. The property is ideally situated within a dense retail trade area and is near Lake Park Plaza (114K+ SF), Dunes Plaza (293K+ SF), and Marquette Place (529K+ SF), three major shopping centers. The surrounding tenants include Walmart Supercenter, Lowe’s, ALDI, Meijer, Menards, Kohl’s, TJ Maxx, and others. The strong trade area drives a loyal, local consumer base to the area, promoting crossover exposure and supporting the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Village West (108 units), Arbor Glen (253 units), Normandy Village (572 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 42,700 residents and 25,500 daytime employees, with a healthy average household income of $80,390.

FOR SALE DETAILS

PRICE

$2,811,000 USD

PRICE/SF

$538 USD /SF

CAP RATE

4.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chick-fil-A

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

81

LAND DETAILS

LAND ACRES

2.53 AC

LAND SF

110,207 SF

ZONING

B-2

APN/PARCEL ID

46-05-08-477-029.000-009

ASK ABOUT THIS PROPERTY

Michael CarterSRS Real Estate PartnersMore Info
248-688-0630

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Michael CarterSRS Real Estate PartnersMore Info
248-688-0630

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