Chili's Ground Lease

Restaurants / Posted 6 months ago by Deborah Vannelli, Upland Real Estate Group, Inc. / 181 views

  • Price : $2,250,000
  • Cap Rate : 6.00%
  • Net Operating Income : $135,000
  • Tenant : Chilli's
  • Lease Type : Ground Lease
  • Lease Term Remaining (Years) : 7 Years, 3 Months
  • Building Size (SF) : 6,380
  • Land Area (Acres) : 1.59
  • Year Built : 2005

• Chili’s Ground Lease has 7 years, 3 months remaining with two 5-year renewal options included in the lease.
• Chili’s has solid store sales performance at this location.
• Chesapeake Foods, Inc. is the tenant on the lease and operates 24 Chili’s restaurants in Maryland, Virginia, and West Virginia.
• Today, there are over 1,600 Chili’s Restaurant locations in 32 different countries worldwide.
• Excellent demographics with nearly 122,000 residents in a 5-mile radius along with an average household income of $111,474.
• Ideal location as an out parcel to the Chesterfield Crossing anchored by The Home Depot, Walmart, PetSmart, Chick-fil-A, iHop and O’Charley’s.
• Located in one of the strongest retail submarkets in the Richmond MSA, Chesterfield Crossing which offers excellent access and visibility from Hull Street Road where traffic counts average 77,000 vehicles per day.

12231 Chattanooga PlazaMidlothian,Virginia,23112

Deborah Vannelli
Upland Real Estate Group, Inc.

612-332-6600

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