KFC

DeLand, FL (1206 S Woodland)

Price $1,360,000
Cap Rate 5.25%
TYPE Single-Tenant
STATUS Closed
Tenant KFC
LEASE TYPE Absolute NNN
SQUARE FEET 2,027
PRICE/SQ FT $656
YEAR BUILT 1975
LEASE EXP. 2037
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

Property Description

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.

Property Highlights

  • Brand New 20 Year Absolute NNN Lease with 5% Rental Escalations every 5 Years
  • Successfully Open & Operating since 1975 with an Attractive 8.00% Rent-to-Sales Ratio!
  • High Drive-by Visibility on the Main North/South Thoroughfare where Traffic Counts Exceed 27,000 CPD!
  • The Deltona-Daytona Beach-Ormond Beach, FL Unemployment Rate: 3.7% - National Unemployment Rate: 4.2% (Sept 2017)
  • Tenant: KBP Foods – The Largest KFC Franchisee in the US that Operates 550+ Locations in 20 States and will Generate Sales Greater than $500M in 2017
  • Nearby Retailers include Publix, T.J. Maxx, Ross Dress for Less, Tuesday Morning, Dollar General, Advance Auto Parts, etc.
  • Demographics – Total Population: 186,747 | Average Household Income: $57,663