KFC & Long John Silver’s

Fort Gratiot, MI

Price $1,561,000
Cap Rate 5.65%
TYPE Single-Tenant
STATUS Closed
Tenant KFC & Long John Silver's
LEASE TYPE Absolute NNN
SQUARE FEET 3,157
PRICE/SQ FT $490
YEAR BUILT 2000
LEASE EXP. 2037
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

Property Description

This property 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 location is a dual-branded concept consisting of both a KFC & Long John Silver’s, offering a broader list of menu items while attracting a larger customer base. This store has been successfully open and operating since 2000 with an attractive 7.25% rent-to-sales ratio.

The subject property is located in Fort Gratiot Township, Michigan, in the dominant retail corridor on the hard corner with high drive-by visibility. The store is less than 1 mile from Birchwood Regional Mall (a 790,000 SF enclosed shopping mall anchored by Target, Macy’s, Carson’s & JCPenney), Kroger, The Home Depot, Lowe’s Home Improvement, Kohl’s, and more. Other nearby retailers include Walmart Supercenter, Meijer, Tractor Supply Co., Hobby Lobby, Dick’s Sporting Goods, Ulta Beauty, Best Buy, etc.

*In Association With: Community Choice Realty | License #6502380502

Property Highlights

  • Brand New 20 Year Absolute NNN Lease with 5% Rental Escalations every 5 Years
  • Successfully Open & Operating since 2000 with an Attractive 7.25% Rent-to-Sales Ratio!
  • Situated just off the Hard Corner where Traffic Counts Exceed 37,400 CPD!
  • Demographics – Total Population: 48,681 | Average Household Income: $68,387
  • 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
  • Well Located in the Dominant Retail Corridor for the Trade Area – Less than 1 Mile from Birchwood Regional Mall, Kroger, The Home Depot, Target, Lowe’s Home Improvement, Kohl’s, etc.
  • Dual-Branded Concept: Subject Property Consists of a KFC & Long John Silver’s – Offering a Broader List of Menu Items while Attracting a Larger Customer Base