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Views: 32 DOM: 206 Updated: 05.25.23 Posted: 10.28.22 Status: Sold 05.22.23

Summary

Price $1,142,500 $1,200,000
Built/Renov 2004/2022
Tenant KFC
Cap Rate 5.78% 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,000
Lease Start 01-01-2022
#Units 340
Price/SF $571.25 $600.00
Expiration 12-31-2032
Tenant Type Fast Food/QSR
NOI $66,000
R. Term 8.0
Ownership Fee Simple
Rent/SF $33.00
Increases 0.0%/5/yrs
Pop 5Mi 28,372
Lot/AC 0.54
Options 2/5yrs
AHHI 5Mi $82,560

Lease Highlights

  • Tenant has 10 years remaining in their initial lease term with 2 (5-year) options to extend
  • The lease features rental increases every 5 years beginning with a $6,000 increase in lease year 5 and throughout options to extend
  • Strong franchisee guarantee from Franchise Management Investors US, LLC

Location Description

The 2,000-square-foot KFC is strategically located along 18th Ave, a primary east-west thoroughfare, with clear visibility and access to more than 13,000 vehicles passing by daily. The property is also within proximity to Interstate 90 (18,300 VPD). The property is situated as an out parcel to a Hy-Vee grocery store. Tenants in the area include Walmart, Marshalls, Hobby Lobby, ALDI, Ashley...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: KFC
  • Guarantor:Franchisee
  • Company:Franchise Management Investors US, LLC
  • # Units:340
  • Tenant S&P: BB+
  • Moody’s: Ba2
  • Stock:NYSE: YUM

About Tenant

The KFC Corporation (aka Kentucky Fried Chicken) is an American fast-food chain that specializes in fried chicken. KFC's core product offering is pressure-fried on-the-bone chicken pieces...


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Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 4,956 27,112 28,470
2022 Total Population : 4,871 27,003 28,372
2022 Employed Civilian Pop : 2,354 12,461 13,136
2022 Total Businesses : 205 870 928
2022 Average Household Income : $ 81,462 $ 81,899 $ 82,560
2022 Total Consumer Spending : $ 138 M $ 750 M $ 798 M
2022 Median Age : 38 39 39
2022 Total Households : 1,943 10,546 11,130
2022 Pop Age 25+: Bachelor's Degree : 403 2,903 3,080
2022 Average Home Value : $ 193,345 $ 189,766 $ 193,013
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US Hwy 218 18th Ave NW 2006 1,400 0.14 mi
14th Street Northwest 18th Ave NW 2018 13,000 0.14 mi
I- 90 US Hwy 218 2019 2,800 0.23 mi
US Hwy 218 I- 90 2006 14,000 0.28 mi
US Hwy 218 I- 90 2019 1,350 0.29 mi
15th Ave NW 12th St NW 2019 3,100 0.30 mi
I- 90 US Hwy 218 2019 13,100 0.30 mi
US Hwy 218 18th Ave NW 2006 5,150 0.33 mi
Interstate 90 10th St NW 2018 18,300 0.35 mi
I- 90 14th St NW 2019 1,300 0.36 mi

Listing Broker

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