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

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.

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 North Ferdon Boulevard this offering consists of a 2,616 sf 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 36,000 Plus 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 Mc Donald’s, CVS, Community Bank, BP, Dollar Tree and Ace Hardware 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 36,000 CARS PER DAY
■ INGRESS AND EGRESS TO AND FROM NORTH FERDON BOULEVARD
■ CLOSE TO 60,000 FULL TIME RESIDENTS WITHIN THE MARKET AREA
■ RARE FLORIDA QSR ASSET
■ FLORIDA HAS NO STATE INCOME TAX

Property Documents

  • City: Crestview
  • State/county: Florida
  • Country: United States

Detail

  • Price: $1,014,554

Additional details

  • CAP Rate: 5.50%
  • NOI: $55,801

Features