KFC

South Bend, IN

Price $1,226,000
Cap Rate 5.40%
TYPE Single-Tenant
STATUS Closed
Tenant KFC
LEASE TYPE Absolute NNN
SQUARE FEET 3,196
PRICE/SQ FT $383
YEAR BUILT 2008 | 2017
LEASE EXP. 11/30/2038
LISTING AGENT Justin Zahn
480-718-5555
justin@ciadvisor.com
Brian Brockman, Bang Realty, Inc.
Indiana State Broker #RB14035714

Property Description

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

Property Highlights

  • Brand New 20-Year Absolute NNN Lease with 7% Rental Escalations every 5 Years
  • Successfully Open & Operating Since 2008 with an Attractive 8.00% Rent-to-Sales Ratio!
  • Excellent Visibility on Portage Rd (Main North/South Thoroughfare through South Bend) where Traffic Counts Exceed 10,890 CPD
  • KBP Foods (the largest KFC franchisee in the U.S.) Operates 645 Locations in 23 States (13% of Locations in U.S. System) and will Generate Sales in Excess of $725 Million in 2018 (FQSR, LLC is the Tenant on the Lease, Encompasses All Restaurant Locations)
  • Recently Remodeled to the “American Showman” Prototype in 2017 – Showing Tenant’s Commitment to the Location!
  • Demographics (5-MI): Total Population: 103,933 | Avg HH Income: $60,955