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Views: 90 DOM: 64 Updated: 05.10.24 Posted: 03.07.24 Status: Sold 05.10.24

Summary

Price $2,220,000 $2,256,000
Built/Renov 1987/2024
Tenant KFC
Cap Rate 4.32% 4.25%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,661
Lease Start 01-16-2014
#Units 850
Price/SF $1,336.54 $1,358.22
Expiration 01-31-2034
Tenant Type Fast Food/QSR
NOI $95,886
R. Term 9.1
Ownership Fee Simple
Rent/SF $57.73
Increases 8.0%/5/yrs
Pop 5Mi 421,995
Lot/AC 0.41
Options 2/5yrs/8%
AHHI 5Mi $91,732

Lease Highlights

  • KFC has 9+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 8% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by KBP Foods (850 units backed)

Location Description

KFC is strategically located at the signalized, hard corner intersection of W Broward Blvd and SW 31st Avenue, with access to a combined daily traffic count of 89,500 vehicles. Additionally, the property is conveniently located just off I-95, which boasts a daily traffic count of 312,000 vehicles, with nearby on/off ramp access. The site offers excellent visibility and multiple points of...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: KFC
  • Guarantor:Franchisee
  • Company:KBP Foods
  • # Units:850
  • 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
2028 Total Population : 20,606 182,446 436,635
2023 Total Population : 20,944 175,844 421,995
2023 Employed Civilian Pop : 8,912 87,555 223,494
2023 Total Businesses : 824 10,887 33,517
2023 Average Household Income : $ 71,775 $ 84,830 $ 91,732
2023 Total Consumer Spending : $ 396 M $ 4881 M $ 13787 M
2023 Median Age : 37 37 40
2023 Total Households : 6,321 66,126 172,868
2023 Pop Age 25+: Bachelor's Degree : 1,802 21,707 64,227
2023 Average Home Value : $ 318,881 $ 390,460 $ 441,908
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
SW 31st Ave SW 2nd Ct 2008 13,500 0.12 mi
W Broward Blvd Florida Ave 2009 45,000 0.13 mi
SW 2nd Ct SW 31st Ave 2005 15,500 0.14 mi
W Broward Blvd NW 29th Ter 2008 47,500 0.17 mi
NW 31st Ave NW 2nd St 2008 20,300 0.18 mi
Southwest 31st Avenue SW 3rd St 2022 11,000 0.23 mi
West Broward Boulevard SW 28th Ter 2022 41,500 0.27 mi
West Broward Boulevard NW 35th Ave 2022 44,500 0.47 mi
SW 27th Ave SW 2nd Ct 2008 11,900 0.54 mi
NW 27th Ave NW 2nd St 2008 14,500 0.54 mi

Listing Broker

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