• An Award Winning Net Lease & Retail Commercial Real Estate Group

Description

Marcus & Millichap is pleased to present for sale this fee simple, Absolute-Net, Sale Lease Back KFC in Defuniak Springs, 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.

The subject property is being delivered with a newly signed 17 year absolute net (no landlord responsibility) lease with rare 1.5 Percent annual increases including during the four, five – year Option Periods and is backed by a strong 4 unit KFC Operating Company.

Fronting US Highway 331 just off Interstate I-10, this offering consists of a large 3,045 sf building with full service drive up window with ample parking and is situated on an oversized 45,080 sf parcel featuring easy access and excellent visibility to daily traffic counts in excess of 20,000 Plus vehicles daily.

This site is surrounded by numerous National and Regional retail tenants including; Beall’s Outlet, Winn Dixie, Walmart Super Center, Dollar tree, SunTrust, Whataburger, Tractor Supply, Sunoco and Mc Donald’s to name a few.

• KFC – 17 YEAR ABSOLUTE NNN LEASE WITH RARE 1.5 Percent INCREASES EVERY FIVE YEARS
• ZERO LANDLORD RESPONSIBILITIES
• TRAFFIC COUNTS EXCEED 20,000 CARS PER DAY
• INGRESS AND EGRESS TO AND FROM CURLEW
• FRONTS US HIGHWAY 331 AND IS ADJACENT TO A WHATA BURGER AND MC DONALDS
• FLORIDA HAS NO STATE INCOME TAX

Property Documents

  • kfc-defuniak-springs-fl-om-package
  • City: Defuniak Springs
  • State/county: Florida
  • Country: United States

Detail

  • Price: $1,191,600

Additional details

  • CAP Rate: 5.50%
  • NOI: $65,538

Features