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Restaurant

KFC - KBP Foods 840+ Unit Guaranty

810 S Craig Ave, Covington, VA 24426

Listing Price: $1,999,999

Tenant Name
KFC
Years Remaining On Lease
18.5
Guarantor
Franchisee Guarantee
Rentable SF
2,217
Lease Type
Absolute Net
Rent Per Square Feet
$49.62

Investment Overview

The Deltondo Group of Marcus & Millichap is pleased to present for sale KFC a single-tenant property located at 801 South Craig Avenue, Covington, VA 24426. KFC has fantastic operating history at this location for over 30 years. The current lease has 18.5 years remaining with 7% increases every five years including the two, 5 year options to extend. ? KBP Foods LLC, named one of the Top 100 private companies and Corporate Report 100 fastest growing companies. Created with the 1999 with the purchase of five KFC restaurants in Colorado, the quick-service franchisee has grown to own over 800 restaurants, KFC, Taco Bell and Long John Silver’s locations in 28 states. In 2023, KBP Foods is a top 20 Yum! Brands franchisee, running over 600 KFC locations.

Investment Highlights

  • Absolute-Net Lease (Zero Landlord Responsibilities): 18.5+ Years Remain with 7% Increases Every 5 Years Including the Two, 5 Year Options to Extend the Term.
  • Across Street From Covington High School: A Short Walk from KFC Covington High School has 360+ Students.
  • Strong Franchisee Guaranty: Leased by KBP Foods the Largest KFC Franchisee in the U.S. which Operates 840+ Locations in 28+ States.
  • Limited QSR Competition: KFC is One of Three Quick Service Restaurants with a Drive-Thru in a 2-Mile Radius of Downtown. Those other QSR's Include Hardee's, Arby's, and Wendy's.
  • 30 Years of Operation: KFC has Operated at this Location Since 1993 and Remodeled This Location in 2018 Showing Commitment to The Site.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Restaurant

KFC - KBP Foods 840+ Unit Guaranty

Listing Price: $1,999,999

Tenant Name
KFC
Years Remaining On Lease
18.5
Guarantor
Franchisee Guarantee
Rentable SF
2,217
Lease Type
Absolute Net
Rent Per Square Feet
$49.62

Investment Highlights

  • Absolute-Net Lease (Zero Landlord Responsibilities): 18.5+ Years Remain with 7% Increases Every 5 Years Including the Two, 5 Year Options to Extend the Term.
  • Across Street From Covington High School: A Short Walk from KFC Covington High School has 360+ Students.
  • Strong Franchisee Guaranty: Leased by KBP Foods the Largest KFC Franchisee in the U.S. which Operates 840+ Locations in 28+ States.
  • Limited QSR Competition: KFC is One of Three Quick Service Restaurants with a Drive-Thru in a 2-Mile Radius of Downtown. Those other QSR's Include Hardee's, Arby's, and Wendy's.
  • 30 Years of Operation: KFC has Operated at this Location Since 1993 and Remodeled This Location in 2018 Showing Commitment to The Site.

Investment Overview

The Deltondo Group of Marcus & Millichap is pleased to present for sale KFC a single-tenant property located at 801 South Craig Avenue, Covington, VA 24426. KFC has fantastic operating history at this location for over 30 years. The current lease has 18.5 years remaining with 7% increases every five years including the two, 5 year options to extend. ? KBP Foods LLC, named one of the Top 100 private companies and Corporate Report 100 fastest growing companies. Created with the 1999 with the purchase of five KFC restaurants in Colorado, the quick-service franchisee has grown to own over 800 restaurants, KFC, Taco Bell and Long John Silver’s locations in 28 states. In 2023, KBP Foods is a top 20 Yum! Brands franchisee, running over 600 KFC locations.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

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