KFC / Long John Silver’s 10-Year Absolute NNN Lease

2516 E Lincolnway, Sterling, IL 61081, USA
$901,091

Description

Marcus & Millichap is pleased to present for sale this KFC / Long John Silver’s Fast Food Restaurant located in Sterling, Illinois. At closing, the tenant will sign a 10-Year Absolute NNN Lease with
7.5 percent increases in rent every five years. This Fast Food Restaurant with a Drive Thru is situated at a signalized intersection next to a Walgreens Pharmacy. This property is surrounded by
many major Industrial companies including Froet industrial, P&P Injections, Micron and Alliance Bearings. Retailers in the immediate area include ALDI, Kohls, Goodwill and several other
fast food restaurants.
Sterling is a city in Whiteside County, Illinois with a population of  5,370. It is nicknamed “Hardware Capital of the World” and has long been associated with the manufacturing and steel industries.
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.
Long John Silver’s LLC (also formerly known as Long John Silver’s Seafood Shop and sometimes abbreviated as LJS) is an American fast food restaurant chain that specializes in seafood. The brand’s name is derived from the novel Treasure Island by Robert Louis Stevenson, in which the pirate Long John Silver is one of the main characters. Formerly a division of Yum! Brands, Inc., the company was divested to a group of franchisees in September 2011, and is now 80 percent franchise owned.

  • KFC/Long John Silver’s Absolute NNN 10-Year Lease with 7.5% Increases Every 5 Years in the Base Term and Options
  • Fast Food Restaurant with a Drive Thru is situated at a signalized intersection next to a Walgreens Pharmacy
  • Located Nearby this property is Sauk Community College with 1,628 Enrolled Students
  • Sterling is the Hardware Capital of the World and has many Steel and Manufacturing Industries in the area
  • Located nearby KSB Hospital a major Hospital for the surrounding Area
  • KFC is considered an Essential Tenant

Property Documents

  • State/county: Illinois
  • Zip/Postal Code: 61081
  • Country: United States

Detail

  • Price: $901,091
  • Year Built: 1977

Additional details

  • CAP RATE: 5.50%
  • NOI: $49,560

Features