Slim Chickens - Kingwood

30255 Tx-494 LOOP Kingwood , TX 77339

Slim Chickens - Kingwood - Retail for sale

Download Offering Memorandum

Overview


JLL is pleased to offer for sale the fee-simple interest in a single tenant absolute triple net leased Slim Chickens (the Property or Asset). Located in Kingwood, Texas, 20 miles northeast of downtown Houston, this location is situated in The Village at Northpark, a newly developed retail center in Kingwood, providing security in the stability of the location and granting future ownership an outstanding opportunity to capitalize on a location surrounded by superb anticipated growth.

Investment Highlights


• Superb Location: The subject Property is part of the newly developed, class “A” retail center, The Village at Northpark, located at the intersection of Interstate Highway 59 North and Northpark Drive, Kingwood. Interstate Highway 59 leads directly to Houston’s George Bush Intercontinental Airport and Downtown Houston. The center includes other eateries and draws an evening crowd via the ShowBiz Cinema and the proposed Home2 Suites.

• Strong Demographics and Household Incomes: Kingwood is predominantly a bedroom community for employees working in Houston and surrounds. The Slim Chickens is located on the way home for many residents who commute from work in Downtown and other business communities south of Kingwood. Total population is 8,452 and 52,482 within a 1 mile and 3 mile radius respectively. Average Household Income is $75,143 and $99,949, within a 1 mile and 3 mile radius respectively. With a daytime population of over 21,000 people within the 1-mile radius, Slim Chickens will be supported by a strong lunch presence.

• Attractive Lease Structure: The Property is subject to a 15 year NNN lease featuring zero landlord responsibilities with 10 percent rent escalations and three, five-year options for extension, providing future ownership with a long-term, passive investment.

• Fast Casual Concept, New Construction: The Property is currently under construction and is expected to open in March. This “fast casual” dining experience will bring a nice change to patrons versus the various Quick-Serve restaurants nearby. Its menu is more varied than most of its competition by offering more selections, healthier food, salads, wraps, platters and dessert. Services offered include drive-thru pick up, dine-in, and catering. According to its website, there are seventy three (73) Slim Chickens locations, twenty (20) of which are located within the Houston MSA.

• Strong Texas Franchisee Operator: Cain Holding Group operates over twenty (20) Panera Bread and Slim Chickens locations in Texas. According to the Houston Chronicle, they are committed to a 25-restaurant expansion across the greater Houston area over the next 7 to 10 years.
General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 30255 Tx-494 LOOP, Kingwood, TX
Land In Acres 1.15
Building Size 2,869  ft2
Financial
Price $2,711,111
Cap Rate 6.75%
Current NOI $183,000.00
Lease
Tenant's Name Slim Chickens
Lease Expiration Date 03/31/2033
Remaining Term 13.9Yrs

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