KFC

Three Rivers, MI

Price $1,209,000
Cap Rate 5.50%
TYPE Single-Tenant
STATUS Closed
Tenant KFC
LEASE TYPE Absolute NNN
SQUARE FEET 3,402
PRICE/SQ FT $355
YEAR BUILT 1989 | 2003
LEASE EXP. 09/30/2038
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com
Andrew Whisler, Community Choice Realty
Michigan Local Broker #6502380502

Property Description

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, operates 645 locations in 23 states, and will generate sales in excess of $725 million in 2018. This asset has been successfully open and operating for decades with an attractive 7.70% rent-to-sales ratio and is slated for remodel by yearend 2020!

KFC is located in Three Rivers, Michigan across the street from Walmart Supercenter with excellent drive-by visibility. Nearby retailers include: Walmart Supercenter, Meijer, Menards, The Home Depot, Tractor Supply Co., ALDI, Family Farm & Home, Dunham’s Sports, Peebles, Dollar General, Harbor Freight Tools, O’Reilly Auto Parts, AutoZone, NAPA Auto Parts, Goodwill, Walgreens, Rite Aid, etc. The subject location is less than half a mile from Three Rivers Health (60 beds) and 1.5 miles from AAM Driveline (a premier global manufacturing leader).

*In Association with Michigan Local Broker: Andrew Whisler, Community Choice Realty # 6502380502

Property Highlights

  • Brand New 20-Year Absolute NNN Lease with 5% Rental Escalations Every 5 Years
  • Successfully Open & Operating for Decades with an Attractive 7.70% Rent-to-Sales Ratio
  • Demographics (5-MI): Total Population: 15,290 | Avg HH Income: $58,583
  • Slated for Remodel by Yearend 2020
  • 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)
  • Hard Corner Location (Across the Street from Walmart Supercenter) with Great Drive-By Visibility where Traffic Counts Exceed 28,500 CPD!