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Restaurant

KFC NNN Lease 7% Increases every 3 Years

2482 US Hwy. 331 S, DeFuniak Springs, FL 32435

Listing Price: $1,611,689

Cap Rate
4.50%
Tenant Name
KFC
Years Remaining On Lease
18.1
Gross SF
3,045
Guarantor
Franchisee Guarantee
Rentable SF
3,045
Price/Gross SF
$529.29
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.82

Investment Overview

Marcus & Millichap is pleased to present for sale this fee simple net
leased KFC Restaurant with Drive Thru in Defuniak Springs, Florida.
Defuniak Springs is 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.
This KFC is subject to an absolute NNN lease with more than 18
years remaining on the base term of the lease. The offering provides
seven percent increases, every three years, in the base term and
during the four five-years option periods.
Fronting US Highway 331 just off Interstate-10, this offering consists
of a large 3,045 square foot building with full service drive up
window with ample parking and is situated on an oversized 45,080
square foot parcel featuring easy access and excellent visibility to
daily traffic counts in excess of 17,574 vehicles daily.
This site is surrounded by numerous national and regional retail
tenants including; Bealls Outlet, Winn Dixie, Walmart Super Center,
Dollar tree, SunTrust, Whataburger, Tractor Supply, Sunoco and
McDonalds to name a few.
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 worlds second-largest
restaurant chain (as measured by sales) after McDonalds, 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.
Value Foodservices LLC operates and owns stores in the quickservice
restaurant industry. VFS currently owns and operates 50
Kentucky Fried Chicken restaurants, some of which are co-branded
restaurants with Taco Bell and Pizza Hut. VFS plans to own and
operate several hundred restaurants over time. VFS is owned by
Blackbern Partners, LLC, a private equity firm.

Investment Highlights

  • Absolute Net Lease No Landlord Responsibilities
  • Long Term Lease with Rare 7 Percent Increases Every Three Years
  • Billboard Included in Sale See Rent Roll For Details
  • Front US Highway 331 and is Adjacent to a Whataburger and McDonalds
  • Traffic Counts Exceed 20,363 Vehicles Per Day
  • Florida is a No Income Tax State

Exclusively Listed By

Restaurant

KFC NNN Lease 7% Increases every 3 Years

Listing Price: $1,611,689

Cap Rate
4.50%
Tenant Name
KFC
Years Remaining On Lease
18.1
Gross SF
3,045
Guarantor
Franchisee Guarantee
Rentable SF
3,045
Price/Gross SF
$529.29
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.82

Investment Highlights

  • Absolute Net Lease No Landlord Responsibilities
  • Long Term Lease with Rare 7 Percent Increases Every Three Years
  • Billboard Included in Sale See Rent Roll For Details
  • Front US Highway 331 and is Adjacent to a Whataburger and McDonalds
  • Traffic Counts Exceed 20,363 Vehicles Per Day
  • Florida is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale this fee simple net
leased KFC Restaurant with Drive Thru in Defuniak Springs, Florida.
Defuniak Springs is 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.
This KFC is subject to an absolute NNN lease with more than 18
years remaining on the base term of the lease. The offering provides
seven percent increases, every three years, in the base term and
during the four five-years option periods.
Fronting US Highway 331 just off Interstate-10, this offering consists
of a large 3,045 square foot building with full service drive up
window with ample parking and is situated on an oversized 45,080
square foot parcel featuring easy access and excellent visibility to
daily traffic counts in excess of 17,574 vehicles daily.
This site is surrounded by numerous national and regional retail
tenants including; Bealls Outlet, Winn Dixie, Walmart Super Center,
Dollar tree, SunTrust, Whataburger, Tractor Supply, Sunoco and
McDonalds to name a few.
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 worlds second-largest
restaurant chain (as measured by sales) after McDonalds, 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.
Value Foodservices LLC operates and owns stores in the quickservice
restaurant industry. VFS currently owns and operates 50
Kentucky Fried Chicken restaurants, some of which are co-branded
restaurants with Taco Bell and Pizza Hut. VFS plans to own and
operate several hundred restaurants over time. VFS is owned by
Blackbern Partners, LLC, a private equity firm.

Exclusively Listed By

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