Chicken Express – Sherman

Price: $2,100,000
Sq. Ft.: 2,518
Cap Rate: 6%
Built: 2006
Absolute Net

The subject property is a 2,518-square foot freestanding Chicken Express in Sherman, 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 2006, includes a drive-thru, and sits on 0.43 acres of land.