About This Restaurant
Investment Highlights
Absolute NNN 18.5 Years Lease Term Remaining Strategeic, Centralized Downtown Location 7.5% Rent Increases 6.4% Rent-to-Sales Ratio 2022 Construction
Executive Summary
Northmarq is pleased to announce the exclusive offering of the fee simple interest in a KFC restaurant located in Mexico, Missouri (the ?Property?). The Property consists of a 0.31 acre-parcel of land containing a newly constructed, approximately 1,925 square foot American Showman Prototype quick service restaurant. The Tenant, AMPEX Brands of St. Louis 2, Inc., is operating under a 20-year absolute net lease structure with contractual cash flow through May 2042. Additionally, the lease features frequent rental increases during the base term, as well as at the start of each of the three (3), five (5) year renewal option periods. The Property is one of 24 successful locations that the franchisee currently operates in Missouri and Illinois. This new location has shown strong performance since opening in June of 2022, as evidenced by its rent to sales ratio of 6.37%. The Property is situated in a prime location in the heart of Mexico surrounded by a variety of notable tenants. Neighboring businesses include popular brands such as Taco Bell, Pizza Hut, Domino?s Pizza, Casey?s, Ace Hardware, Walgreens, and O'Reilly Auto Parts. This bustling area offers an abundance of foot traffic and potential customers for the restaurant. The property is also conveniently located near Mexico?s High School and the Missouri Military Academy, providing a popular lunch or dinner option for students and their families. Additionally, the nearest KFC is approximately 26 miles away and is operated by the same operator of the Subject Property. KFC is a world-renowned fast food restaurant brand with a 75-year history of serving up delicious, ?finger-lickin?-good? fried chicken. As the second-largest restaurant chain in the world, KFC boasts over 27,000 locations in 145 countries and employs 800,000 team members. KFC is a subsidiary of YUM! Brands, Inc., which also operates popular restaurant brands such as Pizza Hut, Taco Bell, and The Habit Burger Grill.In Association With: Brett Butler, MO Lic #2014014142
Property Details
- Sale Type Investment
- Property Type Retail
- Property Subtype Fast Food Fast Food General Retail Freestanding General Retail Restaurant General Retail Storefront Fast Food
- Building Size 1,925
- Building Class C
- Year Built 2022
- Price 1,500,000
- Price Per SF 779
- Cap Rate 6.29
- NOI 94,355
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.14
- Land Acres 0.31 AC
Amenities
- Drive Thru
Property Taxes
Parcel Number | 19-7-26-1-046-001 | Improvements Assessment | $12,560 |
Land Assessment | $106,200 | Total Assessment | $118,760 |
Date Created: | 2024-07-16 04:16:21 | Last Updated: | 2024-07-16 04:16:21 |
Address: | 302 W Jackson St , Mexico, Missouri, 65265 |