Erlanger, KY

Price $1,565,000
Cap Rate 5.65%
TYPE Single-Tenant
STATUS Under Contract
Tenant KFC
YEAR BUILT 1987 | 2016
LEASE EXP. 12/31/2038

Property Description

KFC has a brand new 20-year Absolute NNN lease with attractive 7% rental escalations every 5 years with two 5-yar renewal options. The tenant, KBP foods is the largest KFC franchisee in the US and operates 687 locations in 23 states and will generate sales in excess of $780 million in 2019. The subject location has been successfully open and operating for decades with an 8.0% rent-to-sales ratio and was recently remodeled to the “American Showman” prototype in 2016 – showing the tenants commitment to the location.

KFC is located in Erlanger, Kentucky just off a hard corner with excellent drive by visibility and is situated in a customer base as well as a pad site to the local high school (1,404 students). Nearby retailers include: Crestview Hills Town Center (a 500,000 SF shopping center with national retailers such as Dillard’s, Bed Bath & Beyond, Sephora, Kirkland’s, Bath & Body Works, Mattress Firm, Verizon, Kay Jewelers, Eddie Bauer, DSW – over 65 retail stores). Other retailers include: Kroger, Cato Fashions, Bargain Hunt, Dollar Tree, Dollar General, Walgreens, Kmart. This asset is 2 miles from Thomas More University (enrollment +2,000) and 2.5 miles from St. Elizabeth Edgewood (general medical and surgical hospital with 502 beds).

* In Association with Kentucky Licensed Broker: Brian Brockman, Bang Realty, Inc. #204982

Property Highlights

  • Brand New 20-Year Absolute NNN Lease with Attractive 7% Rental Escalations every 5 Years
  • Successfully Open & Operating for Decades with an 8.0% Rent-to-Sales Ratio! Recently Remodeled to the “American Showman” Prototype in 2016 – Showing Tenant’s Commitment to the Location!
  • 2018 Demographics: Total Population (5-MI): 145,669 | Avg HH Income (3-MI): $81,804
  • 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 2019 (FQSR, LLC is the Tenant on the Lease, Encompasses All Restaurant Locations)
  • Situated just off the Hard Corner with Great Drive-By Visibility on Dixie Hwy where Traffic Counts Exceed 37,010 CPD! Built In Customer Base – Pad Site to Dixie Heights High School (1,404 Students)