KFC has a new 20 year Absolute NNN lease with 5% rental escalations every 5 years with two 5 year renewal options. The tenant, KPB Foods, is the largest KFC franchisee in the US operating 599 locations in 23 states and will generate sales in excess of $650 Million in 2018! This location has been open and operating for decades with an attractive 8.19% rent-to-sales ratio. This KFC was sits on a large 1.03 acre parcel and was fully renovated in 2017 to the latest “American Showman Prototype” costing the tenant an estimated $200,000.
KFC is located in Springfield, Ohio, on the main east/west thoroughfare with high drive-by visibility. The subject property sits within 3 miles of Clark State Community College (total enrollment of 5,653 students), Wittenburg College (total enrollment of 1,916 students), and MercyHealth Springfield Regional Medical Center. Nearby retailers include, Walmart Supercenter, Kroger, Save-A-Lot, CVS Pharmacy, Walgreens, Handyman Ace Hardware, Family Dollar, Rent-A-Center, AutoZone, Advance Auto Parts, O’Reilly Auto Parts, Chakeres Cinema, Shamrock Family Fun Center, etc.
*In Association With Ohio Local Broker: Weade Realtors & Auctioneers, LLC