Investment Overview

Marcus & Millichap is pleased to exclusively present for sale this absolute netleased Church’s Chicken located at 3201 E Hillsborough Avenue in Tampa, Florida, just five miles from downtown Tampa. The subject property features a 1,224-square-foot free-standing building with a drive thru, which was recently renovated to the Tenant’s newest prototype. Strategically positioned at the corner of North 32nd Street and East Hillsborough Avenue, this property benefits from exceptional visibility to over 50,927 vehicles per day along one of Tampa’s most heavily trafficked thoroughfares. East Hillsborough Avenue (State Road 580) serves as a major east-west arterial road, connecting several key neighborhoods and functioning as a vital commercial corridor. The location also offers seamless access to major highway systems, including I-275, I-4, and U.S. Route 301, providing outstanding regional connectivity for both consumers and commercial traffic. The immediate trade area is home to a robust mix of high-profile national and regional retailers, such as Walmart, Publix, AutoZone, Walgreens, McDonald’s, Arby’s, Denny’s, Wawa, Dunkin’, and many others. This corridor anchors substantial commercial activity and remains a prime destination for shopping, dining, and essential services. The subject Church’s Chicken also benefits from this densely populated market, with more than 110,000 full-time residents within a three-mile radius. Church’s Chicken originally entered into a brand-new 20-year absolute net lease in 2005. In 2024, the tenant exercised its option to extend, securing the current lease term through December 27, 2034. The lease features attractive 1.5% annual rent increases and features one ten-year renewal option, providing long-term stability and income growth potential. Church’s Chicken is one of the largest quick-service chicken restaurant chains in the world. Founded in 1952 in San Antonio, Texas, the brand has grown to operate over 1,500 locations across more than 25 countries and international territories. Known for its bold, Southern-inspired flavors and hand-battered fried chicken, Church’s has built a loyal customer base and strong market presence in the fast-food sector. The company continues to expand through both corporate-owned and franchised locations, with a focus on underserved markets and high-traffic retail corridors, reinforcing its position as a competitive player in the quick-service restaurant industry.