Chicken Express – Azle

Price: $2,100,000
Sq. Ft.: 3,249
Cap Rate: 6%
Built: 1985/2013
Absolute Net

The subject property is a 3,249-square foot freestanding Chicken Express in Azle, Texas. This is a sale/leaseback opportunity; the tenant will execute a new 10-year, absolute net lease at closing. The lease will have a franchisee guarantee from the operator of six locations, with a seventh location currently under construction. Ten percent rent escalations are scheduled every five years, including four, five-year options for renewal. Situated on .68 acres, the building was originally constructed in 1985 and had extensive renovations in 2013.