KFC has a brand new 20 year Absolute NNN lease with 5% rental escalations every 5 years and two 5 year renewal options. The tenant, KBP Foods, is the largest KFC franchisee in the US that operates 550+ locations in 20 states and will generate sales in excess of $500M in 2017. FQSR, LLC is the tenant on the lease, encompassing all restaurant locations. This store has been successfully open and operating since 1975 with an attractive 8.00% rent-to-sales ratio.
The subject property is located in DeLand, Florida, in the dense retail corridor with high drive-by visibility on the main North/South thoroughfare. The Deltona-Daytona Beach-Ormond Beach, FL area has a low unemployment rate of 3.7% compared to the national average of 4.2%. KFC is less than 2 miles from Stetson University, a private university with a total enrollment of 4,357 students. The property also sits just 3.5 miles from Florida Hospital DeLand. Nearby retailers include Publix Super Market, T.J. Maxx, Ross Dress for Less, Tuesday Morning, Dollar General, Dollar Tree, Advance Auto Parts, O’Reilly Auto Parts, Napa Auto Parts, Epic Theatres, Walmart Supercenter, Lowe’s, Pet Supermarket, Hibbett Sports, Walgreens, and more.
*In Association With: New England Commercial Brokerage, Inc.