KFC 10-Year Absolute NNN Lease

3010 Main St, Keokuk, IA 52632, USA
$818,182

Description

Marcus & Millichap is pleased to present for sale this KFC Fast Food Restaurant located in Keokuk, Iowa. At closing, the tenant will sign a 10-Year Absolute NNN Lease with 7.5 percent increases in rent every five years. This property is located two minutes from Memorial Hospital which has been serving the community for 70 years and averages 4,000 visitors per year to its 24/7 Emergency Room. Only six minutes away is River City Mall with major national and regional Retailers including Stage Store, Regis Salons, Radio Shack, Dollar General, State Central Bank, The Boardwalk and Party Supply as well as over 30 stores. Retailers in the immediate area include Hy-Vee Gas, Anytime Fitness, Two Rivers Bank & Trust and Salvation Army.
Keokuk is a city and county seat in Lee County Iowa. It is Iowa’s southernmost city located where The Des Moines River meets the Mississippi River. With a population of 10,780, it is named after Sauk Chief Keokuk who is thought to be buried in Rand Park.
KFC, also known as Kentucky Fried Chicken, is an American fast food restaurant chain headquartered in Louisville, Kentucky, that specializes in fried chicken. It is the world’s second-largest restaurant chain (as measured by sales) after McDonald’s, with 22,621 locations globally in 136 countries as of December 2019. The chain is a subsidiary of Yum! Brands, a restaurant company that also owns the Pizza Hut, Taco Bell, and WingStreet chains.

  • KFC Absolute NNN 10-Year Lease with 7.5% Increases Every 5 Years in the Base Term and Options
  • Located Directly Across the street from a Busy Hy-Vee Grocer and Fuel Station
  • Fast Food Restaurant with Drive Thru Component
  • Southeastern Community College is located nearby with a Student Enrollment of 2,987 Student
  • Six Minutes from River City Mall in Heart of Downtown Keokuk’s Retail and Business District
  • KFC is considered an Essential Tenant
  • Located in an Opportunity Zone

Property Documents

  • City: Keokuk
  • State/county: Iowa
  • Zip/Postal Code: 52632
  • Country: United States

Detail

  • Price: $818,182
  • Year Built: 2018

Additional details

  • CAP RATE: 5.50%
  • NOI: $45,000

Features