SLIM CHICKENS | $2,905,983 | 5.85% CAP
The Deltondo Advisory Group is pleased to present for sale the fee simple interest in this single tenant Slim Chickens located at 3900 Tower Road, Aurora, CO 80011.
The subject property is comprised of 4,400 square feet and currently under construction built-to-suit for Slim Chickens. The building sits on 1 Acre just off of Tower Road, one of the main retail corridors in Aurora where the traffic count exceeds 22,000 vehicles per day.
Slim Chickens will hold a 20-Year Absolute-Net lease that will commence at the close of escrow. The tenant has Four, 5-Year options with 5% increases every 5-Years.
Slim Chickens restaurant was founded in Fayetteville, Arkansas in 2003 and now has over 84 locations primarily in the mid-west and southern states and three international locations. The company's first franchise location opened in 2013 and within the next year, 6 more stores were opened. They have 64 franchise stores and 20 corporate stores and expect to have an additional 16 stores open by year-end 2019. The average franchisee owner has 3-4 stores with the largest at 8 stores. They currently have 325 stores in commitment. The company is very diligent in the process of who they allow to open a franchise. They look for operators who share the same vision, willingness to understand the brand, well capitalized and ability to expand and be disciplined in the process. They do not engage with single store operators, preferring to work with multi- location operators. This improves operational efficiency and protects the brand. Per the CFO, Seth Jensen they have only had one store close due to a decision on the location; however, the franchisee had other locations and is still operating. The CFO was formally with Applebees and has been in the restaurant business for over 16 years.
3900 Tower Road
Aurora, Colorado 8011