KFC

Connellsville, PA

Price $1,166,000
Cap Rate 5.90%
TYPE Single-Tenant
STATUS Under Contract
Tenant KFC
LEASE TYPE Absolute NNN
SQUARE FEET 2,822
PRICE/SQ FT $413
YEAR BUILT 1985
LEASE EXP. 09/30/2038
LISTING AGENT Justin Zahn
480-718-5555
justin@ciadvisor.com
Brian Brockman, Bang Realty, Inc.
Pennsylvania Local Broker #RM423816

Property Description

KFC has a brand new 20-year Absolute NNN lease with 5% rental escalations every 5 years and two 4-year and 11-month renewal options. The tenant, KBP Foods (the largest KFC franchisee in the US) operates 687 locations in 23 states (16% of locations in US system) and will generate sales in excess of $780 million in 2018 (FQSR, LLC is the tenant on the lease, encompasses all restaurant locations. This location has been successfully open and operating for decades with an attractive 7.50% rent-to-sales ratio and is slated for remodel by yearend 2020 (est.).

KFC is located in Connellsville, Pennsylvania on Memorial Drive (US 119 – Main North/South thoroughfare) with high drive-by visibility. This asset is 1.5 miles from Highlands Hospital (64 beds) and less than 4 miles from nearby retailers including Walmart Supercenter, Martin Foods, Dollar Tree, Family Dollar, Ace Hardware, AutoZone, Advance Auto Parts, Rite Aid, etc.

*In Association with Pennsylvania Local Broker: Brian Brockman, Bang Realty #RM423816

Property Highlights

  • Brand New 20-Year Absolute NNN Lease with 5% Rental Escalations every 5 Years
  • Successfully Open & Operating for Decades with an Attractive 7.50% Rent-to-Sales Ratio! Slated for Remodel Yearend 2020 (Est.)
  • 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)
  • Great Drive-By Visibility on Memorial Drive (US 119 – Main North/South Thoroughfare) where Traffic Counts Exceed 24,570 CPD