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 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 store has been successfully open and operating for decades with an attractive 8.00% rent-to-sales ratio.
The subject property is located in New Smyrna Beach, Florida with high drive-by visibility on State Road 44. KFC is a pad site to a 200,000 square foot Publix Supermarket anchored shopping center with retailers such as Dollar Tree, Bealls Outlet, Big Lots, Pet Supermarket and more. The store is 3 miles from Daytona State College – New Smyrna Beach/Edgewater Campus that serves nearly 2,000 students. KFC is also 2 miles from Florida Hospital New Smyrna Beach with 112 beds.
*In Association With: New England Commercial Brokerage, Inc.