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Slidell, LA - Chicken Salad Chick
1522 Gause Boulevard | Slidell, LA 70458
$1,469,000
Price6%
Cap Rate$88,144
NOI2010
Year Built3,548
± SF Offering GLA0.78
± AC Land AreaDescription
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Chicken Salad Chick investment property located in Slidell, Louisiana. The tenant, Chicken Salad Chick has 6 years remaining with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Founded in Auburn, Alabama, by Stacy and Kevin Brown, in 2008, Chicken Salad Chick has grown to more than 250 restaurants in 18 states.
Location
passive investor. Founded in Auburn, Alabama, by Stacy and Kevin Brown, in 2008, Chicken Salad Chick has grown to more than 250 restaurants in 18 states.
The subject property is located at the signalized intersection of Gause Blvd, which averages 24,500 VPD. The site benefits from nearby direct on/off ramp access to Interstate 10, a major thoroughfare connection the west coast to the east coast, that averages 56,700 vehicles passing by daily. The asset is directly across the street from Midtown Square Shopping Center (150,000+ SF), which is anchored by Hobby Lobby, Office Depot, Harbor Freight, and more. The site is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Lowe’s, Walmart Supercenter, Home Depot, CVS, Walgreens, and many more. Furthermore, the subject property is in close proximity to Slidell Memorial Hospital (223 beds), further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by a population of over 86,000 residents and 35,000 daytime employees, providing a direct consumer base from which to draw. Residents within a 1-mile radius of the subject property boast an affluent average household income of $101,052.