KFC / Pizza Hut – $1,207,000

//KFC / Pizza Hut – $1,207,000
KFC / Pizza Hut – $1,207,000 2017-10-28T02:30:57+00:00

Project Description

8939 West 7 Mile Road

Detroit, MI 48221

2,400 SF Retail For Sale

KFC / Pizza Hut


Price: $1,207,000
Building Size: 2,400 SF
Price/SF: $502.92
Property Type: Retail
Property Sub-type: Free Standing Bldg
Property Use: Net Lease Investment with 19 years left on lease
Commission Split:  Call Agent
Cap Rate:  5.30%
Tenancy:  Single
Year Built/Remodeled:  1973/2018
Lot Size:  0.56 AC

Description:

The subject property affords investors an opportunity to acquire a KFC/Pizza Hut located in Detroit, MI.  There is 19 years left on an absolute NNN lease.  The lease is backed by one of the largest QSR Franchisee in the US. Currently operating 449 Units, the lease guarantee encompasses all 449 units.   This location benefits from limited competition and has excellent store sales with a rent to sales ration of 6.5%.  Built originally in 1973 and slated to be completely remodeled by early 2018, the 2,400 square foot building has successfully operated as an KFC Restaurant since 1973.

Attachments:

Marketing Brochure

Highlights:

  • Tenant: KBP, Foods. (440+ units)
  • Lease Commencement: July 2016
  • Lease Expiration: June 2036
  • Renewal options: (4), 5-Year Options
  • Rent Increases: 7.0% Every 5 years
  • Type of Ownership: Fee Simple
  • No. of Tenant Locations: 440+

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