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

Description

Marcus & Millichap is pleased to present this KFC located at 2209 South Highway 77, Lynn Haven, FL 32444. The subject property is a 2,640 square-foot single tenant building on 0.82 acres of land. It is a 17-Year Absolute-net (NNN) Sale-Leaseback with no Landlord responsibilities. The offering provides base rent with 1.5 percent annual increases. This property is located just around the corner from the Mowat Middle School and caters to a strong residential market. This asset is an out-parcel to a Walmart Supercenter and across from a Publix anchored shopping center. The neighboring tenants include Regions Bank, Dunkin Donuts, Zaxby’s, Dollar General and Autozone to name a few. KFC (the name was originally an initialism for Kentucky Fried Chicken) is a fast food restaurant chain that specializes in fried chicken and is headquartered in Louisville, Kentucky, in the United States. It is the world’s second largest restaurant chain (as measured by sales) after McDonald’s, with 18,875 outlets in 118 countries and territories as of December 2013. The company is a subsidiary of Yum! Brands, a restaurant company that also owns the Pizza Hut and Taco Bell chains.

■ BRAND NEW 17 YEAR NNN LEASE
■ OUTSTANDING TRAFFIC COUNTS TOPPING 105,000 VEHICLES PER DAY
NEAR STATE HIGHWAY 77 AND WEST HIGHWAY 390
■ LOCATED IN VICINITY OF 4 MAJOR SHOPPING CENTERS INCLUDING
LYNN HAVEN SHOPPING CENTER, LYNN HAVEN PLAZA, STATE HIGHWAY
77 SHOPPING CENTER AND 1800 HIGHWAY SHOPPING CENTER
■ MAJOR TENANTS IN CLOSE PROXIMITY INCLUDE REDBOX, UNITED
STATES POSTAL SERVICE, REGIONS BANK, TRUSTMARK MORTGAGE,
INNOVATION FEDERAL SHOPPING CENTER, WALMART SUPERCENTER,
UPS STORE, PUBLIX AND WINN DIXIE
■ PRICED BELOW REPLACEMENT COST

Property Documents

  • City: Lynn Haven
  • State/county: Florida
  • Country: United States

Detail

  • Price: $693,636

Additional details

  • CAP Rate: 5.50%
  • NOI: $38,150

Features