KFC

1105 South Jefferson Avenue, Cookeville, TN 38506

$2,393,000

Cap Rate 5.85%

Views: 122 DOM: 101 Updated: 09.20.24 Posted: 09.20.24 Status: Active

Summary

Price $2,393,000	Built/Renov 2000	Tenant KFC
Cap Rate 5.85%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 5,300	Lease Start 12-01-2024	#Units 161
Price/SF $451.51	Expiration 11-30-2044	Tenant Type Fast Food/QSR
NOI $140,000	R. Term 19.11	Ownership Fee Simple
Rent/SF $26.42	Increases 1.5%/1/yrs	Pop 5Mi 50,856
Lot/AC 1.48	Options 4/5yrs/1.5%	AHHI 5Mi $73,576

Lease Highlights

Brand new 20-year lease with 4 (5-year) options to extend
The lease features 1.5% annual rental increases throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by a 161-unit subsidiary of Tasty Restaurant Group, the
9th largest franchisee group in the U.S. with nearly 500 units across 6 brands

Location Description

KFC is strategically located at the signalized, hard corner intersection of Jefferson Avenue and I-40, with access to a substantial combined daily traffic count of 79,880 vehicles. The property benefits from its prime location directly off an on-ramp/off-ramp to I-40, which sees 52,000 VPD. It is situated at the entrance to Sam’s Club and is adjacent to seven hotels and an AMC movie theater....

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Key Features

Signalized intersection
Hard corner intersection
High traffic 50M+ VPD
Freeway visibility
Income tax free state
Brand new lease
Long 20+ yr lease
Absolute NNN
Annual rent increases
100+ unit franchisee backed

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Links

KFC Wikipedia KFC Wikipedia Cookeville, Tennessee Zip Code 38506 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: KFC
Guarantor:Franchisee
Company:Tasty Chick'n Midwest, LLC
# Units:161
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 specializing in fried chicken. KFC's core product offering is pressure-fried on-the-bone chicken pieces seasoned...

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Listing Broker

Gary Chou

Berkeley Capital Advisors

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34 Listings
6387 Views
0 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
31315 Views
21 Sold

Gary Chou

With nearly a decade of experience in commercial real estate sales, Gary Chou leads Berkeley Capital Advisors’ West Coast office with a focus on Single Tenant Net Lease, Net Lease Portfolios, and Corporate Sale Leasebacks. Having brokered over 1,300 transactions totaling $3.5 billion, he and his team are highly regarded as one of the most active brokerage teams in the country and serve some of the world’s largest corporate companies, public and private REITs, private equity funds, developers, f

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Berkeley Capital Advisors

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187 Listings
32499 Views
23 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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