Brownsville, TN - 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 investment property located in Brownsville, Tennessee (Memphis MSA). The tenant, Tasty Chick’n, LLC recently signed a brand-new, 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 1.50% annual rental increases starting in year 7 that continues throughout the initial term and options thereafter, 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 investor. Today they still follow his formula for success, with real cooks breading and freshly preparing our delicious chicken by hand in more than 26,000 restaurants in over 145 countries and territories around the world.

The subject property is located along Anderson Ave. which averages 17,940 VPD. The site benefits from nearby direct on/off ramp access to Interstate 40, a major thoroughfare that averages 65,580 vehicles passing by daily. The asset is located near multiple national/credit tenants including Tractor Supply, McDonald’s, Comfort Inn, Waffle House, Shell, Marathon, Quality Inn, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the site is in close proximity to Sunny Hill School (382 students), further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by a population of over 10,000 and 5,000 employees. Residents within a 5-mile trade radius have an average household income of $65,457.