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Views: 104 DOM: 259 Updated: 08.06.24 Posted: 01.25.24 Status: Active

Summary

Price $2,618,000
Built/Renov 2008
Tenant KFC
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,485
Lease Start 04-01-2024
#Units 1
Price/SF $1,053.52
Expiration 03-31-2039
Tenant Type Fast Food/QSR
NOI $144,000
R. Term 14.5
Ownership Fee Simple
Rent/SF $57.95
Increases 10.0%/5/yrs
Pop 5Mi 70,479
Lot/AC 0.48
Options 3/0yrs/10%
AHHI 5Mi $85,214

Lease Highlights

  • KFC will be executing a brand new 15-year lease with 3 (5-year) options to extend
  • The else features 10% rental increases every 5 years throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Franchisee

Location Description

This KFC, equipped with a drive-thru, is strategically located along Milton Ave, a major retail and commuter thoroughfare averaging 31,500 vehicles passing by daily. The asset benefits from being positioned near the on/off ramps to Interstate 90 which sees an additional 55,600 vehciles per day. It is in close proximity to Pine Tree Plaza, a 295,000 SF shopping center that serves over 2.6...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: KFC
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:1
  • 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 that specializes in fried chicken. KFC's core product offering is pressure-fried on-the-bone chicken pieces...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,346 50,887 70,181
2023 Total Population : 5,441 50,950 70,479
2023 Employed Civilian Pop : 2,573 25,042 34,628
2023 Total Businesses : 525 1,921 2,518
2023 Average Household Income : $ 67,212 $ 83,786 $ 85,214
2023 Total Consumer Spending : $ 149 M $ 1562 M $ 2167 M
2023 Median Age : 42 40 40
2023 Total Households : 2,517 21,453 29,259
2023 Pop Age 25+: Bachelor's Degree : 553 7,361 9,980
2023 Average Home Value : $ 191,489 $ 239,330 $ 244,026
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Milton Ave Refset Dr 2013 24,900 0.16 mi
Milton Avenue Refset Dr 2019 24,700 0.16 mi
Holiday Dr Willard Ct 2019 5,700 0.21 mi
Liberty Lane Refset Dr 2019 2,600 0.32 mi
Kennedy Rd Norwood Rd 2019 4,500 0.40 mi
Randolph Rd Milton Ave 2019 5,100 0.42 mi
North Lexington Drive Refset Dr 2019 2,700 0.43 mi
Kennedy Road Newport Ave 2019 6,700 0.44 mi
Milton Ave Woodman Plz 2019 24,000 0.44 mi
N Randall Ave Black Bridge Rd 2019 5,900 0.49 mi

Listing Broker

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