About This Restaurant
Investment Highlights
2023 Construction - Newest KFC Design/Image 125+ Store Franchisee Guarantee - 2023 Franchisee of the Year New 15 Year Lease from the Close of Escrow - Largest KFC Franchisee in Minnesota
Executive Summary
The subject property is located at 1726 Vermillion Street in Hastings MN which is 25 miles southeast of the Twin Cities (Minneapolis/St. Paul). This investment is an Absolute NNN 15 Year Lease with one of the largest KFC Franchisees in the Nation and the largest KFC franchisee in Minnesota. The Subject Property Lease is guaranteed by 125+ Stores. The Lease provides for long term stability with 8% increases every 5 years and there are (4) 5 Year Renewal Options after the primary 15-year lease term.
Property Details
- Sale Type Investment NNN
- Sale Condition Sale Leaseback
- Property Type Retail
- Property Subtype Fast Food Fast Food General Retail Restaurant Fast Food
- Building Size 2,500
- Year Built 2023
- Price 2,400,000
- Price Per SF 960
- Cap Rate 6
- NOI 144,000
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.09
- Land Acres 0.67 AC
Amenities
- Drive Thru
Property Taxes
| Parcel Number | 19-44700-07-210 19-44700-07-240 19-44700-07-230 19-44700-07-220 | Improvements Assessment | $255,700 |
| Land Assessment | $14,900 | Total Assessment | $270,600 |
| Date Created: | 2024-07-16 04:16:20 | Last Updated: | 2024-07-16 04:16:20 |
| Address: | 1726 Vermillion St , Hastings, Minnesota, 55033 | ||