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 that operates 550+ locations in 20 states and will generate sales in excess of $500M in 2017. FQSR, LLC is the tenant on the lease, encompassing all restaurant locations. This store has been successfully open and operating since 1987 with an attractive 8.00% rent-to-sales ratio.
The subject property is located in Titusville, Florida, at the entrance to A. Max Brewer Bridge, one of the mail arterials to the Kennedy Space Center & Port Canaveral. The Palm Bay-Melbourne-Titusville, FL area has a low unemployment rate of 3.6% compared to the national average of 4.2%. KFC is 2 miles from Eastern Florida State College – Titusville Campus and Parrish Medical Center. KFC is also 7 miles from the NASA Shuttle Landing Facility, 10 miles from the Kennedy Space Center and 17 miles from Cape Canaveral Air Force Station, an installation of the U.S. Air Force Space Command’s 45th Space Wing, employing 9,512 military & civilians. Nearby retailers include Publix Super Market, Sally Beauty Supply, Dollar Tree, Family Dollar, Walgreens, Hobby Lobby, Pet Supermarket, Winn-Dixie; 4 miles from Sears, Bealls Outlet & Satellite Cinemas; 6 miles from Walmart Supercenter, Target, Lowe’s Home Improvement, The Home Depot, ALDI, Petco, Marshalls, Staples, and more.
*In Association With: New England Commercial Brokerage, Inc.