KFC has a brand new Absolute NNN lease with 5% rental escalations every 5 years with two 5-year renewal options. The tenant, KBP Foods (the largest KFC franchisee in the U.S.) operates 687 locations in 23 states (16% of locations in U.S. system) and will generate sales in excess of $780 million in 2018 (FQSR, LLC is the tenant on the lease, encompasses all restaurant locations). The subject location has been open and operating for decades with an attractive 6.75% rent-to-sales ratio!
KFC is located in Angola, Indiana on just off a hard corner thoroughfare with high drive-by visibility. Nearby retailers to this asset include Walmart Supercenter, Meijer, Menards, Kohl’s, Hobby Lobby, Goodwill Store, Tractor Supply Co., Rural King, ALDI, Ollie’s Bargain Outlet, Aaron’s, Rent-A-Center, Dunham’s Sports, CVS Pharmacy, Walgreens, Sherwin Williams, Verizon Authorized Retailer, AT&T Store, AutoZone, NAPA Auto Parts, O’Reilly Auto Parts, Advance Auto Parts, etc. The subject property is located less than 1 mile from Trine University (enrollment of 5,184) and less than one mile from Cameron Memorial Community Hospital (25 beds).
*In Association with Indiana Local Broker: Brian Brockman, Bang Realty # RB14035714