KFC has a brand new 20-year Absolute NNN lease with 7% rental escalations every 5 years and two 5-year renewal options. The tenant, KBP Foods, is the largest KFC franchisee in the US and will generate sales in excess of $725 million in 2018. This asset has been successfully open and operating since 2008 with an attractive 8.00% rent-to-sales ratio and was recently remodeled to the “American Showman” prototype in 2017!
KFC is located in South Bend, Indiana on the main north/south thoroughfare through South Bend. Nearby retailers include: Walmart Supercenter, Meijer, Goodwill, ALDI, Dollar Tree, Walgreens, Belle Tire, etc. The subject location is just 4 miles from Notre Dame, Indiana with 3 colleges including University of Notre Dame (12,393 students), St. Mary’s College (1,701 students), and Holy Cross College (529 students). KFC is also only 4 miles from Memorial Hospital of South Bend (526 beds).
*In Association with Indiana Local Broker: Brian Brockman, Bang Realty, Inc. #RB14035714