KFC, Absolute NNN Lease - $1,700,000 | 6% CAP
$1,700,000
891 Martin Luther King Junior Way, Harrisonburg, VA 22801
6
Cap Rate
102,072
NOI
Details:
Description:
• Long-term Absolute NNN Lease: zero Landlord responsibilities with over 8 years remaining on a 20-year term, 5% escalations every five years with four 5-year options to renew
• Tenant / Operator: KBP Foods operates in excess of 1,100 locations across 4 brands in 32 states. Tenant is FQSR, LLC (the largest KFC franchisee in the U.S.)
• Seasoned Location: KFC has operated at this location since 1981. Location is in a corridor of growth located between James Madison University and Downtown Harrisonburg. Just off of I-81 at Exit #247 with major interchange improvements underway creating better access to this market.
• James Madison University is just over one mile away with recent expansion with its 23,000 student base, faculty and staff.
• Local Demographics: 5-mile trade area is supported by more than 73,000 residents and 51,000 daytime employees with an average household income of $87,556.
• Financials: Current lease rate is $8,506 per month or $102,072 NOI = 6% Cap Rate at $1,700,000!
Great location downtown in Harrisonburg, VA!
Documents:
| Title | ||
|---|---|---|
| SVN_-_Brochure__L_.pdf |
Location
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