KFC 104 N Pike St

Investment Highlights

14.4+/- years remaining on primary term, plus 2 five year options. Rent increases every 5 years in primary term and option periods. Tenant pays rent like clockwork. Direct wire transfer. Absolute NNN lease with no Landlord expenses. Strong Tenant with 20% of all US KFC locations; continues to grow year after year. One parcel from primary intersection of city.

Executive Summary

This KFC is a 2,862 square foot QSR restaurant on 0.32 acre parcel of land with a long history of consistent and strong sales.The original 20 year absolute NNN lease commenced in 2018 after the tenant remodeled their the restaurant to the latest "American Showman Prototype". KBP Foods (the largest KFC franchisee in the U.S.) operates 840 locations in 28 states (20% of locations in KFC's U.S. system) and will generate sales in excess of $1 Billion Dollars in 2023 (FQSR, LLC is the tenant on the lease, encompasses all restaurant locations). This KFC has successfully operated since 2008 with an attractive 7.65% Rent-to-Sales Ratio. Situated just off the hard corner with high drive-by visibility on the Main East/West thoroughfare (North Pike Street) where traffic counts exceed 11,820 CPD.This KFC is the only quick serve chicken restaurant in the area. The location is just off the primary intersection for North Pike Street becoming the Northwestern Turnpike at Victory Avenue. Nearby is Autozone, McDonald's, Goodwill, Walgreens, NAPA Auto Parts, Pizza Hut, Dollar General, Cricket, Gomart, Dollar Tree, Subway, Truist Bank and First Community Bank.Tenant pays for the property taxes, insurance and maintains all aspects of the premises. There are no Landlord expenses for the property. KFC is responsible for all damages and casualty repairs, if any. There is no rent abatement for any reason. Tenant pays rent via wire transfer Ideal, management free investment for a passive investor.KFC, an essential business and a recession proof Tenant. The operating entity for KBP Foods is FQSR, LLC; the operations running over 800 locations in 28 states. KPB Foods is the largest KFC franchisee with at least 20% of KFC locations for YUM BRANDS. Yum! Brands, Inc. is an American multinational fast food corporation listed on the Fortune 1000. Yum! operates the brands KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill.

• Sale Type    Investment NNN
• Sale Condition    1031 Exchange
• Property Type    Retail
• Property Subtype    Fast Food Fast Food General Retail Restaurant Fast Food
• Building Size    2,862
• Building Class    C
• Year Built/Renovated    2008/2017
• Price    1,695,000
• Price Per SF    592
• Cap Rate    5.80
• NOI    98,286
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.21
• Land Acres    0.32 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.

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