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 575 locations in 20 states and will generate sales in excess of $650M in 2018. FQSR, LLC is the tenant on the lease, encompassing all restaurant locations. This store has been successfully open and operating since 2007 with an attractive 8.00% rent-to-sales ratio.
KFC is located in Palatka, Florida, along the main North/South thoroughfare on State Road 19 with high drive-by visibility. The subject property is a pad site to the Town & Country Shopping Center Anchored by Publix Super Market; Nearby Retailers include Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, Winn-Dixie, JCPenney, Hibbett Sports, Bealls Outlet, Dollar Tree, Advance Auto Parts, O’Reilly Auto Parts, Walgreens, CVS Pharmacy, Goodwill, Big Lots, Tractor Supply Co., Staples, Harbor Freight Tools, Shoe Show, etc. KFC sits just half a mile from St. Johns River State College Palatka with over 970 students and is 2 miles from Putnam Community Medical Center with 140 beds.
*In Association With: New England Commercial Brokerage, Inc.