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Slim Chickens

Broken Arrow, Oklahoma

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Marcus & Millichap is pleased to present the exclusive listing for a Slim Chickens located at 1100 E. Hillside Drive in Broken Arrow, Oklahoma. Built in 2015, the property consists of 2,992 square feet of building space and is situated on roughly 1.29 acres of land. The Slim Chickens is subject to a 15-year absolute triple-net (NNN) lease, which commenced July 1st, 2019. The current annual rent is $191,799 and is scheduled to increase by one percent (1.0%) annually throughout the base term and in each of the three (3), five (5)-year renewal option.
Slim Chickens is one of the fastest growing fast casual restaurant chains in the United States. Founded in Fayetteville, Arkansas, Slim Chickens has grown to over seventy locations across Arkansas, Illinois, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Oklahoma, South Dakota & Texas. Founded off of the desire to develop a southern casual dining, quick service restaurant concept focusing on fresh chicken recipes, Slim Chickens has had success delivering quality products to happy customers for over 15 years. Slim Chickens has experienced such success that its revenue share has increased tenfold. From 2013 to 2018, Slim Chickens reported revenue has grown from $20 million to nearly $100 million.

About the Investment:

✓ Long-Term, 15-Year Absolute Triple Net (NNN) Lease With 13.5 Years Remaining
✓ Strong Hedge Against Inflation | One Percent (1.0%) Annual Rental Increases
✓ Three (3), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 30 Years
✓ Can Be Sold Individually or as a Portfolio With the Slim Chickens in Moore, OK

About the Location:

✓ Dense Retail Corridor| Lowe’s, Target, Walgreens, Dick’s Sporting Goods, Wendy’s, Taco Bell, Olive Garden, Best Western, and More
✓ Strong Academic Presence| Less Than One and One-Half Miles from Broken Arrow High School | Over 3,850 Students Enrolled
✓ Affluent Suburban Community | Average Income within a One-Mile Radius Exceeds
$80,200 | Population Exceeds 135,140 Individuals Within a Five-Mile Radius
✓ Compelling Location Fundamentals | Within Six Miles of Downtown Tulsa
✓ Strong Traffic Counts | Over 12,640 and 54,100 Vehicles Per Day Along E. Hillside Drive and Broken Arrow Expressway

About the Tenant/Brand:

✓ Slim Chickens is Growing as a Top Player in the Fast-Casual Space as it Continues to see Success and Expansion into Key Markets
✓ Dedicated, Driven and Experienced Operators within the Restaurant Industry and in the Tulsa, Oklahoma Market
✓ Guaranteed by AP Restaurant Group, LLC | Proven Track Record with Strong Operational History Across its 7 Operating Units
✓ Slim Chickens Has a Total of 100-Units Nationwide | Expanding its Presence into Cities Such as: Broken Arrow, Edmond, Moore, Norman, Oklahoma City, Stillwater and Warr Acres
✓ Slim Chickens, Which is the Second Fastest Growing Chicken Franchise, Jumped 22 Spots on the Top 200+ Due to Booming Sales Growth of 25.5% Over Last Year | Ranked on List of Largest United States Franchises

Key Details

Price:
$3,250,831
Cap Rate:
5.90%
Annual Rent:
$191,799
Address:
1100 E. Hillside Drive, Broken Arrow, Oklahoma 74012
Property Type:
Net Leased Quick Service Restaurant
Lease Type:
Triple-Net (NNN)

Original Lease Term:
15 Years
Lease Commencement:
7/1/2019
Lease Expiration:
6/30/2034
Lease Term Remaining:
13.5 Years
Rental Increases:
1% Annually
Lot Size:
+/- 1.29 Acres
Building Size:
2,992 SF
Year Built:
2015
Tenant:
Slim Chickens

Broker of record

Mark McCoy

License: 181981


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