KFC

Fairmont, WV

Price $1,896,000
Cap Rate 5.65%
TYPE Single-Tenant
STATUS Under Contract
Tenant KFC
LEASE TYPE Absolute NNN
SQUARE FEET 2,761
PRICE/SQ FT $686
YEAR BUILT 1985
LEASE EXP. 2038
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com
Gillian Greenfield, CCIM, Greenfield & Craun Commercial
West Virginia Local Broker #225064152

Property Description

KFC has a 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 581 locations in 23 states and will generate sales in excess of $650 Million in 2018! This location has been open and operating for decades with an attractive 7.50% rent-to-sales ratio. This KFC is slated for a substantial remodel by 2018, further solidifying the tenant’s commitment to the site.

The subject property is located in Fairmont, West Virginia, with high drive-by visibility off the hard corner. KFC sits 2.5 miles from Fairmont State University, a public university with over 80 programs or study and 5 graduate degree programs with a total enrollment of 4,049 students. The property is also 3 miles from Fairmont Regional Medical Center. Nearby retailers include Dollar General, Shop ‘n Save, Family Dollar, Advance Auto Parts, Gabe’s, Food Lion, Big Lots, Walmart Supercenter, Save-A-Lot, Shop ‘n Save, Sears Hometown, Aaron’s, Ace Hardware & Contractor Supply, etc.

*In Association With West Virginia Local Broker: Greenfield & Craun Commercial

Property Highlights

  • Brand New 20 Year Absolute NNN Lease with 5% Rental Escalations every 5 Years
  • Successfully Open & Operating for Decades with an Attractive 7.50% Rent-to-Sales Ratio!
  • High Drive-by Visibility just off the Hard Corner where Traffic Counts Exceed 20,210 CPD
  • Tenant: KBP Foods - The largest KFC Franchisee in the US, Operates 581 Locations in 23 States & Will Generate Sales of $650M+ in 2018
  • Slated for Substantial Remodel by 2018, Further Solidifying the Tenant’s Commitment to the Site!
  • Demographics (5 MI): Total Population: 37,321 | Avg HH Income: $60,745