Address: 3620 Altamesa Boulevard , Fort Worth, Texas, United States 76133
Cap Rate: 5.50%
Lease Type: Triple Net (NNN)
Annual Rent: $50,000
Net Operating Income: $50,000
Lease Term Remaining: 20 Years
Rental Increases: 1.25% Starting in Year 6
Options: Four (4), Five (5)-Year Options
Year Built: 1984
Rentable Sq/Ft: 2,887 SF
Rent Sq/Ft: $17.32
Price Sq/Ft: $315
Lot Size: +/-0.59 Acres
Marcus & Millichap is pleased to exclusively market for sale the subject single-tenant net-leased KFC Sale-Leaseback located at 3620 Altamesa Boulevard in Fort Worth, Texas. The property made up of a 2,887 square feet building and is situated on approximately 0.59 acres of land. This investment opportunity is subject to an absolute triple-net (NNN) lease which will commence upon the close of escrow. Ampex Brands operates this KFC location, as well as over 500 other restaurant units. The lease is guaranteed by Ampex Brands LLC, which is comprised of 45 units. The current rent is $50,000 and is subject to 1.25% annual rental increases starting in year six. Additionally, there are four, five-year tenant renewal options.
KFC operates more than 17,000 restaurants in the Unites States and internationally. KFC’s parent company is Yum! Brands, Inc., the world’s largest restaurant company in terms of system restaurants, with more than 40,000 locations in more than 130 countries and territories and employing more than one million associates
This KFC property is located at 3620 Altamesa Boulevard in Fort Worth, Texas. Fort Worth is the 15th largest city in the United States and the fifth-largest city in the state of Texas. Additionally, it is the county seat of Tarrant County. The city is the second largest in the Dallas-Fort Worth-Arlington metropolitan area, which is the 4th most populous metropolitan area in the United States. The city is stimulated by several university communities: Texas Christian University, Texas Wesleyan, University of North Texas Health Science Center, and Texas A&M University School of Law, and many multinational corporations, including Bell Helicopter, Lockheed Martin, American Airlines, BNSF Railway, Pier 1 Imports, XTO Energy and RadioShack.
The subject property is well-positioned in an active corridor within Fort Worth. Major national tenants in the surrounding area include: LA Fitness, Kroger, CVS Pharmacy, Big Lots, Chick-fil-A, McDonald’s, Church’s Chicken, GameStop, Sally Beauty Supply. CitiTrends, T-Mobile, Little Caesars, Supercuts, Wells Fargo, Walgreens, Pizza Hut, Dairy Queen, Advance Auto Parts, Taco Bueno, AutoZone, Jack in the Box, 7-Eleven, Whataburger, Popeyes, Long John Silver’s, USPS, Valero, Chevron, Arby’s, Ihop, as well as many others. Southwest High School and South Hills High School are both in close proximity to the KFC property. The two schools have a combined enrollment of approximately 2,980 students.
There are approximately 141,050 people within a three-mile radius of this property and 254,754 within a five-mile radius. The property is situated on Altamesa Boulevard Street, which has an average daily traffic count of 21,970 vehicles. The subject property also benefits from its close proximity to McCart Avenue, which has an average daily traffic count of 34,280 vehicles.
Dallas is the ninth largest city in the US and the third largest in Texas. Dallas and nearby Fort Worth were developed due to the construction of major railroad lines through the area allowing access to cotton, cattle, and later oil in North and East Texas. The construction of the Interstate Highway System reinforced Dallas’s prominence as a transportation hub, with four major interstate highways converging in the city and a fifth interstate loop around it. Dallas developed as a strong industrial and financial center, and a major inland port, due to the convergence of major railroad lines, interstate highways, and the construction of Dallas/Fort Worth International Airport, one of the largest and busiest airports in the world. The economy of Dallas is considered diverse, with dominant sectors including defense, financial services, information technology, telecommunications, and transportation. It serves as the headquarters for nine Fortune 500 companies within the city limits. The Dallas–Fort Worth metroplex hosts additional Fortune 500 companies, including American Airlines, ExxonMobil, and AT&T.
Broker of Record: Timothy Speck – License # 432723