Investment Offering
Brunswick, OH - Chick-fil-A
3470 Center Road | Brunswick, OH 44212
$2,444,000
Price4.5%
Cap Rate$110,000
NOI4,993
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a NNN leased, newly-constructed, corporate signed Chick-Fil-A investment opportunity located in Brunswick, Ohio (Cleveland MSA). Chick-fil-A, Inc. has approximately 17.5 years remaining on the current lease with 6 (5-year) options to extend. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is NNN with zero landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Chick-fil-A is a leading fast-food chain serving freshly prepared food in more than 2,770 restaurants across the United States, Washington D.C., and Canada.
Location
Chick-fil-A is strategically located at the signalized, hard-corner intersection of Center Road and Brunswick Lake Parkway, averaging a combined 39,500 vehicles passing by daily. The site benefits from direct on/off ramp access to Interstate 71, a major thoroughfare serving the region averaging 56,000 vehicles per day. The property’s significant street frontage provides excellent visibility along Center Road. Furthermore, the building is equipped with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. Furthermore, the subject property is located in the heart of a dense retail corridor, and is an outparcel to a shopping center anchored by The Home Depot and Giant Eagle. Other nearby national/credit tenants include Aldi, Anytime Fitness, Dollar Tree, CVS Pharmacy, Planet Fitness, Dollar General, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by nearly 82,000 residents and 24,500 employees, providing a direct consumer base from which to draw. Residents within 5 miles of the subject property boast an affluent average household income of $104,000.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215