KFC

Marion, OH

Price $2,315,000
Cap Rate 5.40%
TYPE Single-Tenant
STATUS Available
Tenant KFC
LEASE TYPE Absolute NNN
SQUARE FEET 2,150
PRICE/SQ FT $1,076
YEAR BUILT 1970
LEASE EXP. 2038
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

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 since 1970 with an attractive 7.85% rent-to-sales ratio. This KFC was fully renovated in 2017 to the latest “American Showman Prototype” costing the tenant an estimated $200,000.

KFC is located in Marion, Ohio, just off US Route 23 with high drive-by visibility. This location is a pad site to Rural King and is across the street from Lowe’s & ALDI. KFC is less than 1 mile from The Ohio State University at Marion, Marion Technical College and Tri-Rivers Career Center; and less than 3 miles from Ohio Health Marion General Hospital.

*In Association With Ohio Local Broker: Weade Realtors & Auctioneers, LLC

Property Highlights

  • Brand New 20 Year Absolute NNN Lease with 5% Rental Escalations every 5 Years
  • Successfully Open & Operating since 1970 with an Attractive 7.85% Rent-to-Sales Ratio!
  • Fully Renovated in 2017 to the Latest “American Showman Prototype” (Est. Cost in Excess of ±$200,000)
  • Demographics: Total Population (5 MI): 49,473 | Avg HH Income (1 MI): $67,175
  • Tenant: KBP Foods - The largest KFC Franchisee in the US, Operates 581 Locations in 23 States & Will Generate Sales of $650M+ in 2018
  • Pad site to Rural King – Across the Street from Lowe’s Home Improvement & ALDI with
  • Situated just off U.S. Route 23 and Marion-Mt Gilead Rd (Main East/West Thoroughfare) where Traffic Counts Exceed 40,400 CPD
  • Nearby Retailers such as Walmart Supercenter, Meijer, Menards, Hobby Lobby, Ollie’s Bargain Outlet, Ashley HomeStore, Kohl’s, Petco, Office Depot, T.J. Maxx, Big Lots, Dunham’s Sports, Save-A-Lot, Dollar Tree, Dollar General, Goodwill, NTB, Planet Fitness, etc.