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KFC

$ 1,550,000
Flint, Michigan
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Newly Listed

Address: 1445 West Bristol Road, Flint, Michigan, United States 48507

Type: Restaurant

Cap Rate: 5.51%

Lease Type: Triple-Net (NNN)

Annual Rent: $85,463

Net Operating Income: $85,463

Lease Term Remaining: 13.0 Years

Rental Increases: 8.0% Every 5 Years

Options: Four (4), Five (5) Year Option Periods

Year Built: 2001

Rentable Sq/Ft: 2,472 SF

Rent Sq/Ft: $34.57

Price Sq/Ft: $627

Lot Size: +/- 2.01 Acres

Marcus & Millichap is pleased to present the exclusive listing for a KFC located at 1445 West Bristol Road in Flint, MI. This particular KFC is a seasoned location with a longstanding and successful operational history. Additionally, KBP Foods, the largest KFC franchisee in the United States with 770+ units across 25 states, invested several hundred thousand dollars into the property when they completed an extensive remodel in 2017 to KFC’s new “American Showman” prototype. The substantial financial commitment made by the Tenant underpins their commitment and belief in the location as well as improves the underlying value of the property. The property consists of 2,472 square feet of building space and is situated on approximately 2.01 acres of land. The property is subject to a 20-year triple-net (NNN) lease with approximately 13 years remaining. The annual rent is currently $85,463 and will be subject to 8.00% rental increases every five years. The rental increases will continue through the four, five-year tenant renewal options. The tenant on the lease is FQSR, LLC which does business as KBP Foods.

This KFC is located at 1445 West Bristol Road in Flint, Michigan. Flint is the largest city and county seat of Genesee County, Michigan, United States. Located along the Flint River, 66 miles northwest of Detroit, it is a principal city within the region known as Mid Michigan.

This KFC property is strategically located within close proximity to major highways, large-scale commercial enterprises, and many other national retailers. National retailers include: McDonald’s, Walgreen’s, Rite-Aid, Dollar General, Chase Bank, AutoZone, and more. General Motors, the city’s largest employer, conducts the majority of its manufacturing processes within a mile of the subject property. Bishop International Airport, which serves over 700,000 passengers annually, is located approximately one mile from this KFC. The subject property is also located less than five miles from the 416-bed McLaren Flint Hospital and the 443-bed Hurley Medical Center.

Flint has approximately 51,826 individuals residing within a three-mile radius of this KFC and about 128,651 individuals within a five-mile radius. The KFC property is located on West Bristol Road, which experiences an average daily traffic count of 34,000 vehicles. Intersecting with West Bristol Road is Van Slyke Road, which experiences an average daily traffic count of 19,000 vehicles. Nearby, Interstate 75 brings an brings an additional 78,000 vehicles per day to the area and serves as an artery to Detroit.

Flint is well positioned for trade at the crossroads of Interstate 69 and Interstate 75. Since 2011 General Motors has invested over $5 billion between its Flint engine operation and vehicle assembly plants. The metro area also hosts the headquarters to four national insurance companies, including Auto-Owners Insurance Co. Higher education is another key economic driver for Flint, which is home to the University of Michigan–Flint, Kettering University, Mott Community College, The Michigan State University College of Human Medicine, Baker College, and satellite campuses of Davenport University and Spring Arbor University. In September of 2017, Bishop International Airport received a $4,300,000 grant from the Federal Aviation Administration for maintenance and runway upgrades. Over 700,000 passengers a year travel through Flint by way of Bishop International Airport.

 

B.O.R. Steve Chaben  License: 6502387903

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