Address: 1445 W Bristol Road, Flint, Michigan, United States 48507
Cap Rate: 5.70%
Lease Type: Triple Net (NNN)
Annual Rent: $85,463
Net Operating Income: $85,463
Lease Term Remaining: 13.9 Years
Rental Increases: 8.00% Every Five (5) Years
Options: Four (4), Five (5) Year Option Periods
Rentable Sq/Ft: 2,774 SF
Rent Sq/Ft: $30.81
Price Sq/Ft: $541
Marcus & Millichap is pleased to present the exclusive listing for a KFC located at 1445 West Bristol Road in Flint, MI. The property consists of 2,774 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 14.8 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, a 600+ unit operator with operations in 23 states.
Kentucky Fried Chicken (KFC) is a fast food restaurant chain that specializes in fried chicken and is headquartered in Louisville, Kentucky, United States. It is one of the world’s largest restaurant chains with over 22,000 locations globally of September 2018. The company is a subsidiary of Yum! Brands, a restaurant company that also owns the Pizza Hut and Taco Bell chains.
KFC was founded by Harland Sanders, an entrepreneur who began selling fried chicken from his roadside restaurant in Corbin, Kentucky, during the Great Depression. Sanders identified the potential of the restaurant franchising concept, and the first “Kentucky Fried Chicken” franchise opened in Utah in 1952. KFC popularized chicken in the fast food industry, diversifying the market by challenging the established dominance of the hamburger. By branding himself as “Colonel Sanders”, Harland became a prominent figure of American cultural history, and his image remains widely used in KFC advertising.
KFC was one of the first fast food chains to expand internationally, opening outlets in Canada, the United Kingdom, Mexico, and Jamaica by the mid-1960s. The chain continued to expand overseas and in 1987 KFC became the first Western restaurant chain to open in China. The chain has since expanded rapidly in China, which is now the company’s single largest market.
KFC’s original product is pressure fried chicken pieces, seasoned with Sanders’ recipe of 11 herbs and spices. The constituents of the recipe represent a notable trade secret. Larger portions of fried chicken are served in a cardboard “bucket”, which has become a well known feature of the chain since it was first introduced by franchisee Pete Harman in 1957. Since the early 1990s, KFC has expanded its menu to offer other chicken products such as chicken fillet burgers and wraps, as well as salads and side dishes, such as French fries and coleslaw, desserts, and soft drinks.
Broker of Record: Steve Chaben License #6502387903