Marcus & Millichap is pleased to offer the opportunity to acquire a 4,340-square-foot, two-tenant retail center located in Greenville, Texas. The center is fully stabilized and leased to Golden Chick and The Brass Rail. Golden Chick executed a new ten-year lease that includes ten percent rent escalations every five years, and Brass Rail recently executed a five-year extension. Golden Chick has a strong personal guaranty; the current operator owns four other Golden Chick locations as well as several other Quick Service Restaurant concepts. The building is 1980 construction and is situated on a 0.887-acre parcel.
The subject property is strategically located on Interstate 30 Frontage Road near the signalized intersection of Interstate 30 and Moulton Street. The center benefits from easy accessibility from both Interstate 30 and Moulton Street. Traffic counts in front of the property exceed 41,100 vehicles per day. The Golden Chick / The Brass Rail location is near many national and regional retailers including Valero, Quality Inn, Super 1 Foods, Domino’s, Super 1 Foods, Sherwin-Williams, Walmart Neighborhood Market, CVS Pharmacy, Dollar General, Planet Fitness, Atwoods Ranch & Home, Cavender’s, and many more. The center is less than four miles from Hunt Regional Medical Center, a full-service hospital serving residents of Hunt County and surrounding areas. The medical center has more than 180 beds and offers extensive services such as digital imaging, behavioral health, infusion therapy, and more.
- 100% Leased | 4,340-Square Foot, Two-Tenant Retail Center
- Limited Landlord Responsibilities | Both Tenants Pay Pro Rata Shares of Property Tax and Insurance Expenses | Golden Chick is Responsible for All of the Center’s Repair, Maintenance, and Management Expenses (“CAM Charges”) | The Brass Rail Directly Reimburses Golden Chick for CAM
- Golden Chick Recently Executed a New 10-Year Lease with Two, Five-Year Renewal Options that Includes 10% Rent Increases Every Five Years
- Golden Chick has a Strong Personal Guaranty
- Brass Rail Recently Exercised a Five-Year Extension | Tenant has Two, Five-Year Renewal Options
- Both Suites Include Patio Areas for Outdoor Dining
- Current Average Rents are Below Market
- Property was Remodeled and the Roof was Replaced in 2015
- Strategically Located on Interstate 30 Frontage Road with Strong Freeway Visibility of Building and Two Pylon Signs | Easily Accessible from Both Interstate 30 and Moulton Street
- Traffic Counts are Approximately 41,100 Vehicles per Day on Interstate 30
