Chicken Express – Plano

Price: $1,800,000
Sq. Ft.: 3,095
Cap Rate: 6%
Built: 2004
Absolute Net

The subject property is a 3,095-square foot freestanding Chicken Express in Plano, 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. The building was constructed in 2004 and sits on 0.85 acres.