KFC Corporate Lease | Absolute NNN | Strong Traffic Counts

1805 US-1, St. Augustine, FL 32084, USA
$3,490,000

Description

Marcus & Millichap is pleased to present for sale this Kentucky Fried Chicken Restaurant with drive thru located at 1805 US Highway 1 South in St. Augustine, Florida. Saint Augustine is a beautiful city on the Atlantic Coast of northeastern Florida with a population of over 13,000 people. Thousands of tourists travel to St. Augustine each year for its rich history as it is the oldest continually inhabited European established settlement in the United States. This rare corporate backed KFC has more than 17 years on the base term of the lease with two (five year) options to extend.
KFC occupies a large 2,966 square foot restaurant and is situated at the signalized entrance to a Marshalls, Tuesday Morning, and ALDI Grocery Anchored Power Center. This restaurant has very high visibility as it is located less than 600 feet from the signalized intersection of Dixie Highway and Highway 312 which experiences traffic counts exceeding 63,500 vehicles per day. Saint Augustine College is only a six minute drive and has more than 2,501 enrolled students, Flagler college with more than 2,000 students and Saint John’s River College with more than 5,000 students are both a short 10 minute drive from this property.
Flagler Hospital which is less than five minutes from this KFC has 335 beds and is a Center for Excellence in Bariatrics, Cancer, Heart and Maternity. Several shopping malls are located only minutes from this KFC including Cobblestone Village, Riverside Court and Lewis Point Plaza. Many brand new home communities surround this KFC restaurant. Only nine minutes from the property is KB Homes Orchard Park Townhomes with 150 sold out townhomes. Treaty Oaks new home development by Richmond Homes is also 10 minutes away with 130 already sold new
homes.
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.

  • Very Rare Corporate Backed KFC Restaurant with Drive Thru with more than 17 Years Remaining on the Base Term of the Lease
  • Located at the Signalized Entrance to a Marshalls, Tuesday Morning and Aldi Anchored Power Center
  • Strong Traffic Counts: Less than 600 Feet from the Signalized Intersection of Dixie Hwy and Hwy 312 with Exposure to more than 63,500 Vehicles per Day
  • Less than 5 Minutes Away from Flagler Hospital with 335 Beds
  • Multiple Colleges a Short 10 Minute Drive from this Property
  • Florida is a No Income Tax State

Property Documents

  • City: Saint Augustine
  • State/county: Florida
  • Zip/Postal Code: 32084
  • Country: United States

Detail

  • Price: $3,490,000
  • Year Built: 2017

Additional details

  • CAP RATE: 4.12%
  • NOI: $143,849

Features