Chili's 1245 E. State Highway 152

Investment Highlights

New 10-Year Lease | Scheduled Rental Increases | Corporate Signed Lease | Well-Known & Established Brand Primary Retail Corridor | Nearby Shopping Centers | Strong Tenant Presence | Part of Major Retail Development Direct Residential Consumer Base | Affluent Community | Demographics in 5-Mile Trade Area NNN Leased | Leased Fee Ownership | Limited Landlord Responsibilities Located Along State Highway 152 | Centralized Location | 2024 Construction | Excellent Visibility & Access

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a NNN leased, newly built, freestanding, Chili?s investment property located in Mustang, OK (Oklahoma City MSA). The tenant, Brinker Oklahoma, Inc., recently signed a brand new 10-year lease with 4 (5-year) option periods to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Founded in 1975, Chili?s is among the leading casual dining restaurant chains with over 1,600 locations across 29 countries. Chili?s is strategically located along State Highway 152 with clear visibility and access to an average of 25,200 vehicles passing by daily. State Highway 152 directly connects to John Kilpatrick Turnpike, Interstate 344, Interstate 40, Interstate 44, Interstate 35, and Interstate 240, acting as a beltway for Oklahoma City and connecting the MSA. In addition, State Highway 152 is the primary retail corridor in the city with several major shopping centers including Mustang Shopping Center (213K+ SF), Silver City Town Center (89K+ SF), Mustang Trade Center (141K+ SF), and others. The surrounding national/credits tenants include Walmart Supercenter, Lowe?s Home Improvement, Dutch Bro?s, Verizon, Starbucks, Tractor Supply Co., O?Reilly Auto Parts, and others. The strong tenant synergy increases consumer draw to the immediate trade area, promotes crossover store exposure, and contributes to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Greens at Pebble Creek (96 units), Fieldstone Garden (138 units), Pebble Creek (192 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 67,000 residents and 22,900 daytime employees. Residents within 1-, 3-, and 5-miles of the site boast a healthy average household income of $100,707, $101,735, and $105,090, respectively.

• Sale Type    Investment NNN
• Sale Condition    Ground Lease (Leased Fee)
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Freestanding Restaurant
• Building Size    5,117
• Building Class    C
• Year Built    2024
• Price    1,995,000
• Price Per SF    390
• Cap Rate    5.76
• NOI    115,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.07
• Land Acres    1.59 AC