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KFC 15 Year Absolute NNN Lease

511 N Ferdon Blvd, Crestview, FL 32536, USA
$1,014,555

Description

Marcus & Millichap is pleased to present for sale this fee simple, absolute net leased KFC in Crestview, Florida just a short drive West of Panama City and the same distance East of Pensacola in the Florida pan-handle and is considered a principal city of the Fort Walton Beach-Crestview-Destin Metropolitan Statistical Area.
It is a 15-Year lease with no landlord responsibilities. The offering provides seven percent increases, every three years, including diring the four five-years option periods.
Fronting North Ferdon Boulevard this offering consists of a 2,616 square foot building with full service drive up window with ample parking and is situated on just over a half acre parcel featuring easy access and excellent visibility to daily traffic counts in excess of 27,733 vehicles daily. This strong traffic thoroughfare connects directly to Interstate 10 and is just East of US Highway 90.
This site is within the main retail corridor serving Okaloosa county and in close proximity to numerous national retailers including McDonald’s, CVS, Community Bank, BP, Dollar Tree and Ace Hardware to name a few.
KFC, also known as Kentucky Fried Chicken, is an American fast food restaurant chain that specializes in fried chicken, founded by Harland Sanders on March 20, 1930 in North Corbin, Kentucky, United States. It is the world’s second-largest restaurant chain (as measured by sales) after McDonald’s, with almost 20,952 locations globally in 123 countries and territories.

  • Absolute Net Lease “No Landlord Responsibilities“
  • 15 Year Absolute NNN Lease with Rare 7% Increases Every Three Years
  • Over 45,200 Full Time Residents Within the Market Area
  • Traffic Counts Exceed 27,733 Vehicles Per Day
  • Above Average HHI of $70,778, Annually
  • Florida is a No Income Tax State

Property Documents

  • City: Crestview
  • State/county: Florida
  • Zip/Postal Code: 32536
  • Country: United States

Detail

  • Price: $1,014,555

Additional details

  • CAP Rate: 5.50%
  • NOI: $55,800

Features