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