KFC

Delaware , OH

Price $1,889,000
Cap Rate 5.40%
TYPE Single-Tenant
STATUS Available
Tenant KFC
LEASE TYPE Absolute NNN
SQUARE FEET 2,774
PRICE/SQ FT $680
YEAR BUILT 1997
LEASE EXP. 4/30/2038
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com
Branen L. Weade, Weade Realtors & Auctioneers, LLC.
Ohio Local Broker #2010000811

Property Description

KFC has a brand new 20 year Absolute NNN lease with 5% rental escalations every 5 years with two 5 year renewal options. The tenant, KPB Foods, is the largest KFC franchisee in the US operating 599 locations in 23 states and will generate sales in excess of $650 million in 2018! This location has been open and operating since 1997 with an attractive 8.53% rent to sales ratio. This location is slated for remodel by yearend 2020, further solidifying the tenant’s commitment to the site

KFC is located in Delaware, OH, just off a hard corner with high drive-by visibility. This property is located adjacent to Ohio Wesleyan University with enrollment over 1,600 and 2 miles from OhioHealth Grady Memorial Hospital. Nearby retailers include Family Dollar, Dollar General, Pat Catan’s, Walgreens, CVS Pharmacy, AutoZone, NAPA Auto Parts, Walmart, Sears Home Town Store, Kroger, Meijer, Kohl’s, CATO Fashions, Sally Beauty, Office Depot, ALDI, Pet Supplies Plus, Goodwill, Dollar Tree, Verizon, AT&T, etc.

*In Association with Ohio Local Broker: Weade Realtors & Auctioneers, LLC

Property Highlights

  • Brand New 20-Year Absolute NNN Lease with 5% Rental Escalations every 5 Years
  • Successfully Open & Operating since 1997 with an Attractive 8.53% Rent-to-Sales Ratio!
  • Located Adjacent to Ohio Wesleyan University (a Private Liberal Arts College Offering Over 90 Major & Minor Programs with Total Enrollment of Over 1,600)
  • Demographics: Total Population: 48,354 | Avg HH Income: $83,994 | Population Growth (5-MI): 12.49%
  • Tenant: KBP Foods - The largest KFC Franchisee in the U.S. Operates 599 Locations in 23 States and Will Generate Sales of $650M+ in 2018
  • Slated for Remodel Estimated by Yearend 2020, Further Solidifying the Tenant’s Commitment to the Site!
  • High Driveby Visibility just off the Hard Corner with High Drive by Visibility where Traffic Counts Exceed 14,970 CPD