CAP Rate: 4.50%
Net Operating Income: $125,000
Lot Size: 2.12 AC
- 100% Fee Simple Interest
- Fee Simple Ground Lease
- New 15 Year NNN Lease
- Scheduled Increases
- Zero Landlord Obligations
We are pleased to offer the opportunity to acquire the 100% fee simple interest in a long term 15 year absolute NNN Chick-fil-A ground lease.
This Chick-fil-A benefits from a 4,750-square foot restaurant with a drive-thru located in Sylvania Twp., Ohio. Chick-fil-A signed a 15 year absolute NNN ground lease with five percent increase after 10 years. The lease also provides for seven 5-year option periods with increases of 8% each option period.
Chick-fil-A is a privately owned chain boasting $6 billion in annual revenue (48 consecutive years of sales growth). Chick-fil-A has set itself apart as one of the nation’ s largest quick-serve restaurant chains featuring the highest per-unit volume ($3.5 million per unit in 2015) and operates in over 2,000 locations across 43 states.
Chick-fil-A’ s location at 6636 W. Central Avenue (State route 20) features easy access and excellent visibility to daily traffic counts in excess of 40,312 on Central Avenue and 16,833 on McCord Road. A four way signalized intersection along Central Avenue and McCord Road enhances this exposure.
The asset is conveniently located .5 miles from I-475 / US 23 the site is 5 minutes from downtown Sylvania, OH, 8 minutes to Maumee, OH, 10 minutes to downtown Toledo, 40 minutes to Ann Arbor, MI and 45 minutes to Detroit, Michigan.