KFC

Springfield, OH

Price $2,130,000
Cap Rate 5.40%
TYPE Single-Tenant
STATUS Under Contract
Tenant KFC
LEASE TYPE Absolute NNN
SQUARE FEET 3,283
PRICE/SQ FT $648
YEAR BUILT 2017
LEASE EXP. 2038
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com
Branen L. Weade, Weade Realtors & Auctioneers, LLC.
Ohio Local Broker #2010000811

Property Description

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

Property Highlights

  • Brand New 20 Year Absolute NNN Lease with 5% Rental Escalations every 5 Years
  • Successfully Open & Operating for Decades with an Attractive 8.19% Rent-to-Sales Ratio!
  • Positioned on a Large ±1.03 Acre Parcel with High Drive-by Visibility on the Main East/West Thoroughfare where Traffic Counts Exceed 21,180 CPD
  • Tenant: KBP Foods - The largest KFC Franchisee in the US, Operates 599 Locations in 23 States & Will Generate Sales of $650M+ in 2018
  • Fully Renovated in 2017 to the Latest “American Showman Prototype” (Est. Cost in Excess of ±$200,000)
  • Demographics (5 MI): Total Population: 80,187 | Avg HH Income: $56,459