Chick Fil-A - Texas City
3440 Palmer Hwy Texas City , TX 77590

Chick Fil-A - Texas City - retail for sale

Download offering memorandum:

Overview



JLL, on behalf of the owner, is pleased to exclusively offer for sale the newly constructed Chick-Fil-A (the “Property”) pad site at Palmer Plaza in Texas City, TX, just southeast of Houston. Chick-fil-A occupies ±0.9129 acres of land in Texas City, TX and has signed a 15-year absolute bondable NNN lease which commenced on February 7th, 2019. Shadow anchored by two leading grocery stores, HEB and Aldi, Chick-fil-a is well-positioned in a location with a high volume of foot traffic, which is also generated by a third grocery store, Kroger, located across Palmer Highway. This opportunity offers investors a stable asset with a high quality, investment grade tenant and no landlord responsibilities. 

Investment highlights


  • High performing store
  • Shadow anchored by three leading grocery stores including HEB, ALDI, and Kroger
  • No landlord responsibilities, self-managed parcel (not a part of shopping center CAM’s)
  • 10% increases every five years
  • Total VPD – 45,769 (State Highway 146 & Palmer Highway)
  • #1 rated Quick Service Restaurant in the country with $4.6 million in sales per store (53% greater than the #2 QSR) 
General
Property type Retail
Property subtype Single tenant/Standalone
Tenure type Sale/Purchase
Property address 3440 Palmer Hwy, Texas City, TX 77590-6512
Land in acres 0.91
Building size 4,500  ft2
Year built 2019
Financial
Price $2,937,500
Cap rate 4.00%
Current NOI $117,500.00
Lease
Tenant's name Chick-fil-A Inc
Lease type NNN
Annual rent $117,500.00
Lease expiration date 01/31/2034
Remaining term 14.2Yrs

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