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Restaurant

Chili's

2299 N Morton St, Franklin, IN 46131

Listing Price: $2,528,909

Cap Rate
5.50%
Tenant Name
Chili's
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
5,856
Lease Type
NNN Ground Lease
Rent Per Square Feet
$23.75

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a 5,856-squarefoot Chili’s Grill & Bar casual-dining restaurant in which Brinker Restaurant Corporation, a subsidiary of publicly traded Brinker International Inc., has over four years remaining on its triple-net ground lease. The lease features four five-year renewal options with a 10 percent rent increase at the beginning of each option.

On the 27,300+ AADT U.S. Route 31 retail corridor, Chili’s Grill & Bar sits on an outpad to Lowe’s, just north of a Walmart Supercenter and across from a Meijer supermarket. Chili’s is just south of manufacturers KYB, Caterpillar, Amcor Rigid Plastics and DualTech.

The seat of Johnson County, Franklin is home to the Johnson County Fair, 651-employee Johnson Memorial Hospital and nearly 1,000-student Franklin College. Interstate 65 and U.S. Route 31 connect Franklin to Indianapolis; Greenwood, IN; and Columbus, IN.

Founded in 1975, Brinker International Inc. operates full-service casual dining chains Chili’s Grill & Bar and Maggiano’s Little Italy, with 1,632 restaurants worldwide. Brinker reported the fifth consecutive year of Chili’s same-store sales growth at the end of 4Q FY26, with a 71 percent cumulative increase over that time.

This property combines the security and ease of a corporately guaranteed triple-net ground lease with the long-term potential of a 1.56-acre outpad along the U.S. Route 31 retail corridor.

Investment Highlights

  • Over Four Years Remaining on Triple-Net Ground Lease
  • 10 Percent Rent Increase in Each of Four Five-Year Renewal Options
  • Generous 1.56-Acre Outpad in Lowe's-Anchored Retail Center Along Over 27,300 AADT U.S. Route 31
  • Strong Local Manufacturing Economy With 700-Employee KYB, 298-Employee Caterpillar, 260-Employee NSK and 250-Employee Grayson
  • Located 25.7 Miles South of Downtown Indianapolis in the 2,205,695-Person Indianapolis-Carmel-Greenwood, IN, Metro Area
  • Corporately Guaranteed by Brinker International Inc. (NYSE: EAT), Which Reported $5.8 Billion in Annual Sales Revenue at the End of 4Q FY26

Exclusively Listed By

Broker of Record

  • Julia Evinger

    Managing Director Investments

    (317) 218-5300

    License(s) IN: RB14040143

    Indiana

Listing Price: $2,528,909

Cap Rate
5.50%
Tenant Name
Chili's
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
5,856
Lease Type
NNN Ground Lease
Rent Per Square Feet
$23.75

Investment Highlights

  • Over Four Years Remaining on Triple-Net Ground Lease
  • 10 Percent Rent Increase in Each of Four Five-Year Renewal Options
  • Generous 1.56-Acre Outpad in Lowe's-Anchored Retail Center Along Over 27,300 AADT U.S. Route 31
  • Strong Local Manufacturing Economy With 700-Employee KYB, 298-Employee Caterpillar, 260-Employee NSK and 250-Employee Grayson
  • Located 25.7 Miles South of Downtown Indianapolis in the 2,205,695-Person Indianapolis-Carmel-Greenwood, IN, Metro Area
  • Corporately Guaranteed by Brinker International Inc. (NYSE: EAT), Which Reported $5.8 Billion in Annual Sales Revenue at the End of 4Q FY26

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a 5,856-squarefoot Chili’s Grill & Bar casual-dining restaurant in which Brinker Restaurant Corporation, a subsidiary of publicly traded Brinker International Inc., has over four years remaining on its triple-net ground lease. The lease features four five-year renewal options with a 10 percent rent increase at the beginning of each option. On the 27,300+ AADT U.S. Route 31 retail corridor, Chili’s Grill & Bar sits on an outpad to Lowe’s, just north of a Walmart Supercenter and across from a Meijer supermarket. Chili’s is just south of manufacturers KYB, Caterpillar, Amcor Rigid Plastics and DualTech. The seat of Johnson County, Franklin is home to the Johnson County Fair, 651-employee Johnson Memorial Hospital and nearly 1,000-student Franklin College. Interstate 65 and U.S. Route 31 connect Franklin to Indianapolis; Greenwood, IN; and Columbus, IN. Founded in 1975, Brinker International Inc. operates full-service casual dining chains Chili’s Grill & Bar and Maggiano’s Little Italy, with 1,632 restaurants worldwide. Brinker reported the fifth consecutive year of Chili’s same-store sales growth at the end of 4Q FY26, with a 71 percent cumulative increase over that time. This property combines the security and ease of a corporately guaranteed triple-net ground lease with the long-term potential of a 1.56-acre outpad along the U.S. Route 31 retail corridor.

Exclusively Listed By

Broker of Record

  • Julia Evinger

    Managing Director Investments

    (317) 218-5300

    License(s): IN: RB14040143

    Indiana

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