Sault Ste Marie, MI - KFC

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, KFC investment property located in Sault Ste Marie, Michigan. The tenant, Bells and Birds, Inc., doing business as KFC, will sign a brand new 15-year lease at the close
of escrow (sale leaseback) with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 8% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.

KFC is located along Interstate 75 Business Spur, featuring 15,500 vehicles passing by daily. Interstate 75 Business Spur is the main retail thoroughfare of the trade area, and is home to other national/credit tenants including Walmart, Meijer, Tractor Supply Co, TJ Maxx, Hobby Lobby, and more. Strong surrounding tenant synergy increases consumer draw to the overall trade area, and promotes crossover shopping to the subject site. The property is equipped with a drive-thru, allowing for
ease of access and convenience for customers. Stores with drive-thrus see significantly higher sales than stores without. KFC is located less than 1 mile away from Interstate-75, a major north-south U.S. Highway that runs from Florida to the Canadian Border. The property is less than 1 mile away from Lake Superior State University, which serves over 2,500 students each semester. The 5-mile trade area is supported over 16,000 residents as well as 11,000 employees, and features an average household income of $59,061.

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Listing ID: a284o000001NZ4uAAG