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Views: 60 DOM: 36 Updated: 11.11.24 Posted: 10.16.24 Status: Active

Summary

Price $1,911,009
Built/Renov 1978
Tenant KFC
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,188
Lease Start 10-01-2024
#Units 162
Price/SF $456.31
Expiration 09-30-2044
Tenant Type Fast Food/QSR
NOI $109,883
R. Term 19.10
Ownership Fee Simple
Rent/SF $26.24
Increases 1.5%/1/yrs
Pop 5Mi 94,931
Lot/AC 0.91
Options 4/5yrs/1.5%
AHHI 5Mi $70,159

Lease Highlights

  • Brand new 20-year lease with 4 (5-year) options to extend
  • The lease features 1.5% annual rental increases starting year 6 and at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Tasty Chick'n, LLC (162 units backed)

Location Description

KFC is strategically located on a signalized, hard corner intersection Hardy Road and Niagara Road, with access to 25,823 vehicles passing by daily. The property is conveniently situated near Carilion Roanoke Hospital, one of the region's largest employers, with over 13,000 employees, and Roanoke College, which has an enrollment of 2,000 students. Nearby national tenants include Food Lion,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

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


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Listing Broker

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