KFC

New Smyrna Beach, FL

Price $1,810,000
Cap Rate 5.00%
TYPE Single-Tenant
STATUS Closed
Tenant KFC
LEASE TYPE Absolute NNN
SQUARE FEET 2,526
PRICE/SQ FT $716
YEAR BUILT 1989
LEASE EXP. 2037
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

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 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.

Property Highlights

  • Brand New 20 Year Absolute NNN Lease with 5% Rental Escalations every 5 Years
  • Successfully Open & Operating for Decades with an Attractive 8.00% Rent-to-Sales Ratio!
  • Demographics: Total Population: 129,938 | Average Household Income: $67,196
  • Tenant: KBP Foods – The Largest KFC Franchisee in the US that Operates 550+ Locations in 20 States and will Generate Sales in Excess of $500 Million in 2017
  • Pad Site to a 200,000+ Sq. Ft. Publix Supermarket Anchored Shopping Center with Retailers such as Dollar Tree, Bealls Outlet, Big Lots, Pet Supermarket, etc. where Traffic Counts Exceed 35,000 CPD