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Golden Chick

Ovilla, Texas

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Marcus & Millichap is pleased to present the exclusive listing for a Golden Chick located at 2887 W Ovilla Rd in Ovilla, TX. The property consists of 2,464 square feet of building space and is situated on approximately 0.52 acres of land.
The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the close of escrow. The lease will call for 1.50% annual rental increases that will continue through the base term and into the four, five-year tenant renewal options. The lease will carry a corporate guaranty from Golden Franchising Corporation, the chain’s franchisor.

Brand New 20-Year Sale-Leaseback
✓ Triple Net (NNN) Lease with Zero Landlord Responsibilities
✓ Corporate Guaranty from Golden Franchising Corporation, the Chain’s Franchisor
✓ Attractive Rental Increases | 1.5% Annually
✓ Four (4) Tenant Renewal Periods of Five (5) Years Each

Key Details

Price:
$2,933,333
Cap Rate:
4.50%
Annual Rent:
$132,000
Address:
2887 W Ovilla Rd, Ovilla, Texas 75154
Property Type:
Net-Leased Restaurant
Lease Type:
Triple Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Close of Escrow
Lease Expiration:
20 Years from Close of Escrow
Lease Term Remaining:
20 Years
Rental Increases:
1.50% Annually
Lot Size:
0.52 Acres
Building Size:
2,464 SF
Year Built:
2016
Tenant:
Golden Chick

Broker of record

Tim Speck

License: 9002994


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