KFC Absolute NNN Lease | 18+ Years Remaining

2482 US Hwy. 331 S, Defuniak Springs, FL 32435, USA
$1,611,689

Description

Marcus & Millichap is pleased to present for sale this fee simple net leased KFC Restaurant with Drive Thru in Defuniak Springs, Florida. Defuniak Springs is 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.
This KFC is subject to an absolute NNN lease with more than 18 years remaining on the base term of the lease. The offering provides seven percent increases, every three years, in the base term and during the four five-years option periods.
Fronting US Highway 331 just off Interstate-10, this offering consists of a large 3,045 square foot building with full service drive up window with ample parking and is situated on an oversized 45,080 square foot parcel featuring easy access and excellent visibility to daily traffic counts in excess of 17,574 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 McDonald’s to name a few.
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 24,000 locations globally in 145 countries and territories. The chain is a subsidiary of Yum! Brands, a restaurant company that also owns the Pizza Hut, Taco Bell, and WingStreet chains.
Value Foodservices LLC operates and owns stores in the quick service restaurant industry. VFS currently owns and operates 50 Kentucky Fried Chicken restaurants, some of which are co-branded
restaurants with Taco Bell and Pizza Hut. VFS plans to own and operate several hundred restaurants over time. VFS is owned by Blackbern Partners, LLC, a private equity firm.

  • Absolute Net Lease “No Landlord Responsibilities“
  • Long Term Lease with Rare 7 Percent Increases Every Three Years
  • Billboard Included in Sale – See Rent Roll For Details
  • Front US Highway 331 and is Adjacent to a Whataburger and McDonalds
  • Traffic Counts Exceed 20,363 Vehicles Per Day
  • Average HHI of $60,047 Annually
  • Kentucky Fried Chicken is World’s Second Largest Restaurant Chain (Measured by Sales) after McDonald’s with 24,000 Locations Globally in 145 Countries and Territories
  • Florida is a No Income Tax State

Property Documents

  • KFC-Defuniak-Springs-FL-om-ib
  • City: Defuniak Springs
  • State/county: Florida
  • Zip/Postal Code: 32435
  • Country: United States

Detail

  • Price: $1,611,689
  • Year Built: 1999

Additional details

  • CAP RATE: 4.50%
  • NOI: $72,526

Features