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Private Investor Buys Clovis Chick-fil-A Ground Lease for $4.7M
SRS Real Estate Partners brokered the absolute NNN ground-lease sale of a newly built Chick-fil-A in Clovis, California, to a Central Valley private buyer.
Key Takeaways
- A newly developed Chick-fil-A in Clovis sold for $4.7 million on a 15-year absolute triple-net ground lease.
- SRS’s Alexander Moore represented a San Francisco Bay Area seller; the buyer was a Central Valley-based private investor.
- CRE Market Beat reports the buyer used a 1031 exchange and that the 4,847-square-foot restaurant sits on about 2.19 acres near California State University.
The Details
SRS Real Estate Partners negotiated the $4.7 million ground-lease sale of a single-tenant Chick-fil-A in Clovis, roughly eight miles from Fresno. Shopping Center Business reports the restaurant occupies a 4,847-square-foot building on a 15-year absolute triple-net lease. Alexander Moore of SRS represented the seller, described as a San Francisco Bay Area-based investor; the buyer was a Central Valley-based private investor.
CRE Market Beat, covering the same closing, places the asset at 560 W. Shaw Ave., says the building was completed in 2026 on a 2.19-acre parcel, and states the buyer completed the purchase as part of a 1031 exchange. That outlet also quotes Moore on demand for Central Valley investments and for Chick-fil-A-occupied properties.
Why It Matters
For small and mid-sized net-lease buyers, this is a clean mid-market QSR ground lease in the private-investor price band: new construction, absolute NNN responsibilities on the tenant, and a 1031 use case. It is a useful comps point for Chick-fil-A ground leases in secondary California markets, where private capital—not institutions—is often the natural buyer.
What's Next
Buyers shopping similar California QSR ground leases should compare remaining lease term, rent commencement status, and fee-simple versus ground-lease structure before using this as a pricing anchor. Sellers with newly delivered absolute NNN QSR pads in growing inland markets may find a ready private and 1031 buyer pool.
