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Restaurant

KFC

270 E Fairmount Ave, Lakewood, NY 14750

Listing Price: $2,619,494

Cap Rate
4.75%
Tenant Name
Charter Central, LLC
Years Remaining On Lease
16.1
Guarantor
Franchisee Guarantee
Rentable SF
3,295
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.76

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the KFC located at 270 East Fairmount Avenue in Lakewood, NY. The building consists of approximately 3,295 square feet of building space and is situated on approximately 0.72 acres of land. The tenant is subject to a recently extended triple-net (NNN) lease with roughly 17 years of lease term remaining. The base rent is $124,426 with 10 percent rental increases every five years throughout the remainder of the base lease term and each option period. Based in Louisville, Kentucky, KFC Corporation is the franchisor of the world’s most popular chicken restaurant chain. KFC has been serving customers complete, freshly prepared family meals since 1952. KFC serves more than 12 million customers each day in more than 115 countries and territories around the world. KFC operates more than 19,500 restaurants in the Unites States and internationally. Charter Foods, Inc. is a YUM! Brands Franchisee that is headquartered in Morristown, Tennessee. The company operates more than 200 locations across 12 states in the south and northeast regions of the United States, consisting of Taco Bell, Long John Silver’s, Kentucky Fried Chicken and A&W restaurants. Charter Foods, Inc. is one of the fastest growing YUM! Brands franchisees in the country and has annual revenues in excess of $200 million.

Investment Highlights

  • 17 Years Remaining on a Triple-Net (NNN) Lease with Zero Landlord Responsibilities | Attractive 10% Increases Every 5 Years
  • EXCEPTIONAL UNIT-LEVEL PERFORMANCE | 70%+ ABOVE NATIONAL AVERAGE -EXCELLENT 6.4% RENT TO SALES RATIO | Please Contact Listing Agents for Details
  • Tenant Displaying Long Term Commitment to the Site | Tenant Recently Extended the Lease to 20 Years and completed a Substantial +/-$500,000 Remodel to Latest Prototype

Exclusively Listed By

Listing Price: $2,619,494

Cap Rate
4.75%
Tenant Name
Charter Central, LLC
Years Remaining On Lease
16.1
Guarantor
Franchisee Guarantee
Rentable SF
3,295
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.76

Investment Highlights

  • 17 Years Remaining on a Triple-Net (NNN) Lease with Zero Landlord Responsibilities | Attractive 10% Increases Every 5 Years
  • EXCEPTIONAL UNIT-LEVEL PERFORMANCE | 70%+ ABOVE NATIONAL AVERAGE -EXCELLENT 6.4% RENT TO SALES RATIO | Please Contact Listing Agents for Details
  • Tenant Displaying Long Term Commitment to the Site | Tenant Recently Extended the Lease to 20 Years and completed a Substantial +/-$500,000 Remodel to Latest Prototype

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the KFC located at 270 East Fairmount Avenue in Lakewood, NY. The building consists of approximately 3,295 square feet of building space and is situated on approximately 0.72 acres of land. The tenant is subject to a recently extended triple-net (NNN) lease with roughly 17 years of lease term remaining. The base rent is $124,426 with 10 percent rental increases every five years throughout the remainder of the base lease term and each option period. Based in Louisville, Kentucky, KFC Corporation is the franchisor of the world’s most popular chicken restaurant chain. KFC has been serving customers complete, freshly prepared family meals since 1952. KFC serves more than 12 million customers each day in more than 115 countries and territories around the world. KFC operates more than 19,500 restaurants in the Unites States and internationally. Charter Foods, Inc. is a YUM! Brands Franchisee that is headquartered in Morristown, Tennessee. The company operates more than 200 locations across 12 states in the south and northeast regions of the United States, consisting of Taco Bell, Long John Silver’s, Kentucky Fried Chicken and A&W restaurants. Charter Foods, Inc. is one of the fastest growing YUM! Brands franchisees in the country and has annual revenues in excess of $200 million.

Exclusively Listed By

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