KFC 1116 Parade St

Investment Highlights

Long Term Lease | Brand-New 20-Year Triple Net (NNN) Lease Strong Guarantee | 68-Unit Franchisee Guarantee from Morgan Foods, Inc. Strong Inflation Hedge | 1.25% Annual Increases Starting in Year 11

Executive Summary

NNN Pro is pleased to present the exclusive listing for a KFC located at 1116Parade Street, Erie, PA 16503. The site consists of roughly 2,748 rentablesquare feet of building space on an estimated 0.74-acre parcel of land. ThisKFC is subject to a 20-year Triple Net (NNN) lease, which commenced3/31/2019. The current annual rent is $76,809 and has scheduled increasesof 1.25% Annually Starting in Year 11.

• Sale Type    Investment NNN
• Sale Condition    1031 Exchange
• Property Type    Retail
• Property Subtype    Fast Food Fast Food General Retail Restaurant Fast Food
• Building Size    2,748
• Building Class    B
• Year Built    1986
• Price    1,280,150
• Price Per SF    466
• Cap Rate    6
• NOI    76,809
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.09
• Land Acres    0.74 AC
• Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

• 24 Hour Access
• Pylon Sign
• Tenant Controlled HVAC
• Drive Thru
• Air Conditioning