Investment Offering
Forney, TX - Salad and Go
430 South Farm to Market 548 | Forney, TX 75126
$2,466,000
Price6%
Cap Rate$147,946
NOI2023
Year Built865
± SF Offering GLA0.93
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate signed, dual drive-thru equipped, Salad and Go investment property located in Forney, Texas. The tenant, And Go Concepts, LLC, recently signed a brand new 20-year lease with 4 (5-year) option periods 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. The newly constructed building features a state-of-the-art design and high-quality materials. Salad and Go was founded in 2013 in Gilbert, Arizona. The company currently operates nearly 103 locations in the Western United States and is continuing to expand.
Location
The Salad and Go is located along Farm to Market 548, a major retail and commuter thoroughfare that sees an average 19,800 vehicles passing by daily. The investment is near the signalized, hard corner intersection of Farm to Market 548 and College Ave (36,100 VPD). The building is equipped with dual drive-thrus, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The asset is located directly across from the development of a 60,000 SF Tom Thumb supermarket and 20,000 SF of in-line retail. Other nearby developments include iCare Urgent Care, H-E-B, Dunkin’, Jimmy John’s, Heartland Dental, Legacy Gateway Apartments (336 units), and Wildwood of Forney Apartments (325 units). The asset is in a dense retail corridor with national/credit tenants including Walmart Supercenter, Lowe’s Home Improvement, Kroger, ALDI, Kohl’s, Chick-Fil-A, McDonald’s, Raising Canes, Starbucks, Chipotle, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover tenant exposure to the site. The subject property is adjacent to Forney High School (2,000+ students), providing a direct consumer base from which to draw. The 5-mile trade area is supported by over 86,515 residents with an affluent average household income of $110,971.
Contact
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226