REIT Sale | Former KFC | 13K VPD | Drive Thru

Description:

RI Marketplace Online Auction July 28-30, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2558/reit-sale-former-kfc-13k-vpd-drive-thru?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2558

Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 309 N. Washington Street in Crawfordsville, Montgomery County, Indiana 47933 (the “Property”). Formerly occupied by KFC, the Property is being offered significantly below replacement cost, creating an attractive opportunity for owner/users or investors to acquire a highly visible, free-standing retail asset in a regional market within the North Indiana Area submarket. FIRST BID MEETS RESERVE!

Built in 1979, the Property consists of a ±3,000-square-foot freestanding building situated on a ±0.469-acre parcel (±20,419 SF), with 12 surface parking spaces. Positioned at a hard corner along one of Crawfordsville’s primary thoroughfares, the site features a pylon sign, a drive-thru, and strong visibility with ±165 feet of frontage along N. Washington Street, which sees ±13,932 vehicles per day (VPD). The existing infrastructure makes the site an excellent candidate for restaurant reuse, retail repositioning, or redevelopment for QSR or other commercial uses. Previously leased on a NNN basis, the building offers a compelling value-add opportunity to re-lease at market rents (CoStar estimated retail rents: $14–$17/SF NNN). Zoned B3 – Business, the Property supports a wide range of uses, providing flexibility for future tenancy or redevelopment.

Crawfordsville serves as the county seat and primary commercial hub of Montgomery County, offering a strong mix of national and local retailers, institutional anchors, and consistent consumer traffic from both residents and regional visitors. The Property is located just off the high-traffic intersection with E. Market Street (±17,216 VPD), providing excellent accessibility and daily visibility. Interstate 74 is located approximately 3 miles north, offering seamless east–west connectivity with larger cities such as Indianapolis (±45-mi east) and Champaign, Illinois (±90-mi west)—positioning the area as a strategic midpoint between two major economic centers. Educational and healthcare demand drivers include Wabash College, a nationally ranked liberal arts institution with an enrollment of approximately 850 students, and Franciscan Health Crawfordsville, a full-service, 25-bed regional hospital—both located within 1 mile of the Property. The Property is also located near major employers including Lakeside Book Company (±1-mi), Random House (±2-mi), and Nucor Steel (±8-mi). The surrounding community supports a stable and growing consumer base, with a 5-mile population of ±22,819 and an average household income exceeding $83,000. This demographic strength, combined with the Property’s strategic location, underpins its long-term viability for a wide range of retail, service, or QSR uses.


Bryan P. Jackson
c/o Fisher Auction Company Inc.
License: AU09100175

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