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Views: 100 DOM: 301 Updated: 08.28.24 Posted: 11.11.23 Status: Active

Summary

Price $1,976,400
Built/Renov 1989/2017
Tenant KFC
Cap Rate 4.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,652
Lease Start 03-20-2019
#Units 185
Price/SF $745.25
Expiration 03-31-2039
Tenant Type Fast Food/QSR
NOI $79,056
R. Term 14.6
Ownership Fee Simple
Rent/SF $29.81
Increases 10.0%/1/yrs
Pop 5Mi 97,750
Lot/AC 1.00
Options 2/5yrs/10%
AHHI 5Mi $113,940

Lease Highlights

  • KFC has 15+ years remaining on its primary lease term with 2 (5-year) options to extend
  • The lease features 10% rent increases every 5 years
  • Absolute NNN | Zero landlord responsibilities
  • World-class 185-unit Luihn VantEdge guarantor

Location Description

KFC is strategically located along Capital Boulevard/US HWY 1, a major north-south corridor serving the eastern United States, with access to 47,000 vehicles. The property is surrounded by national tenants, including Burger King, Big Lots, Dairy Queen, Goodwill, Rite Aid, and several more. The 5-mile trade area is supported by a population of 97,750 residents, with an average household income...

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Maps

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  • 5 Miles

Tenant

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
2028 Total Population : 3,898 53,598 108,175
2023 Total Population : 3,637 47,057 97,789
2023 Employed Civilian Pop : 1,641 23,742 50,494
2023 Total Businesses : 300 1,850 2,925
2023 Average Household Income : $ 140,263 $ 135,944 $ 148,240
2023 Total Consumer Spending : $ 157 M $ 2076 M $ 4521 M
2023 Median Age : 37 36 37
2023 Total Households : 1,327 17,945 35,934
2023 Pop Age 25+: Bachelor's Degree : 923 10,079 22,100
2023 Average Home Value : $ 476,381 $ 461,174 $ 465,922
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Wake Forest Business Park 2021 3,100 0.12 mi
Durham Rd 2021 2,700 0.16 mi
Kearney Rd Penfold Ln 2013 2,900 0.23 mi
Cloverleaf Dr 2021 4,000 0.32 mi
Durham Rd 2021 3,300 0.36 mi
Durham Rd Cloverleaf Dr 2009 18,000 0.37 mi
Capital Boulevard Wake Union Church Rd 2019 46,500 0.39 mi
Capital Boulevard Durham Rd 2019 48,500 0.41 mi
US 1 Agora Dr 2020 39,000 0.42 mi
Wake Union Church Rd Durham Rd 2013 3,300 0.49 mi

Listing Broker

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