2410 SE Delaware Ave
Des Moines, IA 50021
|Price: $1,880,000||Building Size: GL|
|Cap Rate: 4.25%||Lot Size: 1.3 acres|
|Annual Rent: $80,000||Year Built: 2014|
– Absolute NNN Lease Zero landlord responsibilities
– Corporate Guarantee from Chick-fil-A, Inc. which had $6 billion revenue in 2015
– Long Term Ground Lease – 12 Years Remaining
– Strong Rent Growth – 10% every 5 years
– Outparcel to a Walmart Supercenter
– Low rent of $80,000 per year and below market at $17 PSF
National Retail Properties is pleased to present for sale an absolute triple net ground lease Chick-Fil-A located in Des Moines, IA. This corporate lease is guaranteed by Chick-Fil-A, Inc. and zero landlord obligations. The lease has 12 years remaining on an original 15 year term. The lease provides for strong rental growth with 10% increases every 5 years including during the option periods.
Chick-fil-A is well located along Delaware Avenue which is a major north/south roadway in Des Moines, IA. The property is strategically situated as an outparcel to a Walmart Supercenter and adjacent to Casey’s General Store gas station. The location, which has great visibility and access, is surrounded by a vibrant trade area that includes other national retailers such as Menard’s, Target, Home Depot, PetSmart, Kohl’s, Best Buy, Michael’s, Panera, McDonald’s, Chipotle, etc.