KFC | Long John Silver’s

Bradenton, FL

Price $1,867,000
Cap Rate 5.25%
TYPE Single-Tenant
STATUS Closed
Tenants KFC | Long John Silver's
LEASE TYPE Absolute NNN
SQUARE FEET 2,960
PRICE/SQ FT $630
YEAR BUILT 2004
LEASE EXP. 10/31/2038
LISTING AGENT Justin Zahn
480-718-5555
justin@ciadvisor.com
Brian Brockman, Bang Realty - Naples, Inc.
Florida Local Broker #BK3327646

Property Description

KFC 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 operating 611 locations in 23 states and will generate sales in excess of $650 million in 2018. This asset has been successfully open and operating for decades with an attractive 8.50% rent-to-sales ratio!

KFC is located in Bradenton, Florida on the hard corner of Easts State Road and 64th Street with excellent drive-by visibility. Nearby retailers include: Walmart Supercenter, Publix Super Market, The Home Depot, Goodwill, Office Depot, Tractor Supply Co., Dollar Tree, Advance Auto Parts, Anytime Fitness, Walgreens, etc. The subject location is 4.5 miles from Manatee Technical College (enrollment of 829) and 5.5 miles from Manatee Memorial Hospital (319 beds).

*In Association with Florida Local Broker: Brian Brockman, Bang Realty-Naples, Inc. #BK3327646

Property Highlights

  • Brand New 20-Year Absolute NNN Lease with 5% Rental Escalations every 5 Years
  • Successfully Open & Operating since 2004 with an Attractive 8.50% Rent-to-Sales Ratio!
  • Demographics: Infill Location with Total Population (5-MI): 114,044 | Avg HH Income (3-MI) : $85,215 | Population Growth 2010-2018 (1-MI): 31.27%
  • KBP Foods (the largest KFC franchisee in the U.S.) Operates 611 Locations in 23 States (13% of Locations in U.S. System) and will Generate Sales in Excess of $650 Million in 2018 (FQSR, LLC is the Tenant on the Lease, Encompasses All Restaurant Locations)
  • Hard Corner Location (E State Rd & 64th St Ct E) with Great High Drive-By Visibility where Traffic Counts Exceed 47,000 CPD