Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Chick-Fil-A at 2000 Gallatin Pike N in Madison, Tennessee (“Property” or “Asset”). The Property is operating on an absolute NNN ground lease with ±5.9 years of primary lease term remaining, 10.0% rent escalations every 5 years and six, five-year options. The property benefits from a low rent of $110,000 and is positioned on a large 1.1-acre parcel. Notably, the property has had a long, successful operating history of 24 years and has an upcoming 10% rent bump in April of 2027.

This unique opportunity allows investors the ability to acquire a low-rent, strong performing Chick-fil-A located in a rapidly expanding commercial corridor in the coveted Nashville MSA.

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Attributes

Asking price

₱151,696,000

NOI

₱6,756,000

Cap rate

4.45%

Remaining lease term

5.9 years

Lease type

Absolute Triple Net

Building area net

430 sm

Occupancy

100%

Land area gross

0.45 ha

Media

Investment highlights

±5.9 Years of primary term remaining
Absolute NNN Ground Lease - Zero landlord responsibilities
Ranked in the top 25% most visited CFAs Nationwide with 1.1M visitors
Successful 24 year operating at the site
10% rent escalations every 5 years with an escalation upcoming in 2027
Outparcel to a new $450 million redevelopment mixed-use district
13 miles north of downtown Nashville
$97K Average household income within 5-mile radius
21% Population growth since 2010 within a one-mile radius
Dense retail corridor adjacent to top 5% most visited shopping center, Rand Village
Frontage along Gallatin Pike and just off Interstate 65 with 33,000+ VPD
Leading Fast-Food Chain with $9.2M Average Unit Volume