Portsmouth, OH - Taco Bell & KFC

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, KFC and Taco Bell investment property located in Portsmouth, Ohio. The tenant, KBP Foods, has over 15 years of term remaining with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7% 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.

The asset is located on Highway 23, averaging over 16,100 vehicles passing by daily. US Highway 23, is a major retail thoroughfare serving the city of Portsmouth. The site is located less than 4 miles from downtown Portsmouth which features an 89,400+ square foot Kroger center that contains a Starbucks and nearby Domino’s. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Aldi, Big Lots, Wendy’s, Buffalo Wild Wings, Tim Horton’s, Sonic Drive-In, Pizza Hut and more, further increasing consumer traffic to the site. The subject property is in close proximity to Southern Ohio Medical Center (218 Beds), which employs over 3,000 people. The asset is located less than 4 miles from Shawnee State University, which has over 3,900 students, providing a direct consumer base from which to draw. The 5-mile trade area is supported by a population of over 29,127 with an average household income of $61,439 and an employee population of 19,388.