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