KFC

Utica, MI

Price $1,140,000
Cap Rate 5.50%
TYPE Single-Tenant
STATUS Under Contract
Tenant KFC
LEASE TYPE Absolute NNN
SQUARE FEET 2,957
PRICE/SQ FT $385
YEAR BUILT 1983
LEASE EXP. 2037
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

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 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 1983 with an attractive 6.0% rent-to-sales ratio.

The subject property is located in Utica, Michigan, situated just off the hard corner with high drive-by visibility nearby Walmart, Kmart and Big Lots. KFC sits just 4 miles from Lakeside Mall (anchored by Macy’s, Lord & Taylor, Sears & JCPenney), Target, Costco Wholesale, Lowe’s Home Improvement, Meijer, Sam’s Club, Dunham Sports, Dick’s Sporting Goods, Old Navy, Bed Bath & Beyond, Marshalls, HomeGoods, Babies R Us, buybuy BABY, Barnes & Noble, Best Buy, OfficeMax, Hobby Lobby, Michaels, JoAnn Fabrics, PetSmart, Sally Beauty, Harbor Freight Tools, Value City Furniture, At Home, Art Van Furniture, Gardner-White Furniture, Ollie’s Bargain Outlet, Planet Fitness, Dave & Buster’s, and more.

*In Association With: Community Choice Realty | License #6502380502

Property Highlights

  • Brand New 20 Year Absolute NNN Lease with 5% Rental Escalations every 5 Years
  • Successfully Open & Operating since 1983 with an Attractive 6.0% Rent-to-Sales Ratio!
  • Demographics – Total Population: 195,394 | Average Household Income: $101,382
  • Tenant: KBP Foods – The Largest KFC Franchisee in the US that Operates 550+ Locations in 20 States and will Generate Sales in Excess of $500 Million in 2017
  • Situated just off the Hard Corner with High Drive-by Visibility & Traffic Counts that Exceed 50,560 CPD!