Slim Chickens

Property Details

Asking Price:
$3,061,539
Tenancy:
Single Tenant
Property Type:
Single Tenant
Lease Type:
NNN
Lease Term:
15 years
Square Footage:
3,225 sqft
Year Built:
2016
Lot Size:
1.1 acres
Broker Co-Op:
Yes
NOI:
$199,000

Slim Chickens

War Room

Confidentiality Agreement

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Property Overview

  • 15 year absolute Triple Net Lease
  • 8% Rent Increases every Five (5) years
  • Five (5) Five(5) year options
  • Newly constructed facility opened for business in 2016
  • Traffic counts exceed 240,000 vehicles per day at the intersection
This freestanding, approximately 3,225 square foot, Slim Chickens restaurant building is situated on +/- 47,977 square feet of land and has 14 years remaining on the initial term of the lease. The site is located in the SEQ of State Highway 183 (Airport Freeway) and Precinct Line Road in the strategically situated city of Hurst, Texas. The site has exposure to a combined traffic count of approximately 240,000 cars per day along SH-183 and Precinct Line Road and is an outparcel to an above average Super Target strategically situated in the sought after suburban market of the Mid Cities centrally located in the DFW Metroplex. The “Metroplex” is the largest metropolitan area in Texas, the largest in the South, and fourth largest in the U.S. with a population of 7,102,796, according to the 2015 US Census official estimate. Overall, DFW is the 12th largest metro economy in the world and has a gross metro product exceeding $300 billion. Hurst enjoys a centralized location between Dallas and Fort Worth and close proximity to the DFW Airport. In the last three years, Hurst has added more than 850,000 square feet of new businesses. Retail occupancy levels exceed national and regional averages, while developers and retailers are still finding new opportunities. This Slim Chickens benefits from a dense 3-mile population of over 111,000 people with an average household income of over $78,000 per year. The site is situated less than one mile away from Simon Property Group’s super-regional North East Mall with a total of 2,134,00 square feet of retail featuring over 150+ stores. The mall has been voted best shopping destination in Tarrant County for eight consecutive years. The roster of fine retailers and eateries includes Nordstrom, Dillard’s, Macy’s, JC Penney, Dick’s Sporting Goods, Michael Kors, the Rave Theater and many more. The mall enjoys annual shopper counts upwards of 15 million, and Hurst ranks in the Top 50 cities in the state in retail sales per capita. A thriving retail corridor with a dense population in a 3-mile radius along with excellent exposure to massive traffic counts contribute to make this Slim Chickens one of the best performing units out of the company’s 57 existing locations.