KFC has 14 years remaining on an initial 20 year Absolute NNN lease with 7.5% rental escalations every 5 years (next increase: 2/10/2022). The tenant, JRN, Inc. is an experienced operator of 155 locations in 11 states. This location has been successfully open and operating for over two decades with an impressive 8.14% rent-to-sales ratio! This KFC is slated for a substantial remodel by yearend 2023, further solidifying the tenant’s commitment to the site.
The subject property is located in Lexington, Virginia with high drive by visibility just off Lee Highway. KFC is located just one mile from Washington & Lee University and less than half a mile from Carilion Stonewall Jackson Hospital. Nearby retailers include: Kroger, Food Lion, True Value, Ollie’s Bargain Outlet, Dollar General, Goodwill Store, CVS Pharmacy, Tractor Supply Co., Peebles, Walmart, Lowe’s Home Improvement & Virginia Horse Center
*In Association with Virginia Local Broker: New England Commercial Brokerage, Inc.