Restaurant
KFC
2828 N Monroe St, Tallahassee, FL 32303
Listing Price: $3,114,000
Cap Rate
5.50%
Tenant Name
KFC
Gross SF
3,790
Guarantor
Franchisee Guarantee
Rentable SF
3,790
Price/Gross SF
$821.64
Lease Type
Absolute Net
Rent Per Square Feet
$45.19
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale a KFC in Tallahassee, FL.
Investment Highlights
- 20-Year absolute triple-net (NNN) of a free-standing KFC QSR in Tallahassee, FL. The lease features 1.50% annual increases beginning in year seven, four five-year options, and a strong guarantee.
- The tenant is Tasty Chick'n Southeast, LLC & the guarantor is Tasty Chick'n, LLC, providing an 80-unit lease guarantor.
- Tasty Restaurant Group ("TRG") provides management services to both the tenant and guarantor entities. TRG is one of the largest multi-brand QSR operators in the nation and 2nd largest KFC operator.
- Subject property is located less than 1 mile from The Centre of Tallahassee (regional mall), the 3rd most visited shopping center within a 50-mile radius. The Centre of Tallahassee saw over 3.1M visits over the last 12 months. Tenants include AMC, Dollar Tree, Ross Dress for Less, Belk, Barnes and Nobel, and The School of Arts and Sciences at The Centre.
- Highway exit location at the intersection of FL I-10 at N Monroe St, which sees a combined 106,000+ VPD.
- There are 20+ hotels and lodges within a 1-mile radius of subject property, totaling 1,600+ rooms. There are also 68,656 households within a 5-mile radius of the subject property.
- Tallahassee is the capital city of Florida and county seat of Leon County. It is the 9th largest city in Florida with a population of roughly 202,221.
Exclusively Listed By
Broker of Record
Listing Price: $3,114,000
Cap Rate
5.50%
Tenant Name
KFC
Gross SF
3,790
Guarantor
Franchisee Guarantee
Rentable SF
3,790
Price/Gross SF
$821.64
Lease Type
Absolute Net
Rent Per Square Feet
$45.19
Investment Highlights
- 20-Year absolute triple-net (NNN) of a free-standing KFC QSR in Tallahassee, FL. The lease features 1.50% annual increases beginning in year seven, four five-year options, and a strong guarantee.
- The tenant is Tasty Chick'n Southeast, LLC & the guarantor is Tasty Chick'n, LLC, providing an 80-unit lease guarantor.
- Tasty Restaurant Group ("TRG") provides management services to both the tenant and guarantor entities. TRG is one of the largest multi-brand QSR operators in the nation and 2nd largest KFC operator.
- Subject property is located less than 1 mile from The Centre of Tallahassee (regional mall), the 3rd most visited shopping center within a 50-mile radius. The Centre of Tallahassee saw over 3.1M visits over the last 12 months. Tenants include AMC, Dollar Tree, Ross Dress for Less, Belk, Barnes and Nobel, and The School of Arts and Sciences at The Centre.
- Highway exit location at the intersection of FL I-10 at N Monroe St, which sees a combined 106,000+ VPD.
- There are 20+ hotels and lodges within a 1-mile radius of subject property, totaling 1,600+ rooms. There are also 68,656 households within a 5-mile radius of the subject property.
- Tallahassee is the capital city of Florida and county seat of Leon County. It is the 9th largest city in Florida with a population of roughly 202,221.
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale a KFC in Tallahassee, FL.