KFC

Erie, Pennsylvania

NNN Pro is pleased to present the exclusive listing for a KFC located at 1116
Parade Street, Erie, PA 16503. The site consists of roughly 2,748 rentable
square feet of building space on an estimated 0.74-acre parcel of land. This
KFC is subject to a 20-year Triple Net (NNN) lease, which commenced
3/31/2019. The current annual rent is $76,809 and has scheduled increases
of 1.25% Annually Starting in Year 11.

About the Investment:

Long Term Lease | Brand-New 20-Year Triple Net (NNN) Lease
Strong Inflation Hedge | 1.25% Annual Increases Starting in Year 11
Strong Guarantee | 68-Unit Franchisee Guarantee from Morgan Foods, Inc.

Key Details

Price:: $1,280,150
Cap Rate:: 6.00%
Annual Rent:: $76,809
Address:: 1116 Parade St, Erie, Pennsylvania 16503
Property Type:: Restaurant - Quick Service
Lease Type:: Triple Net (NNN)

Original Lease Term:: 20
Lease Commencement:: 3/31/2019
Lease Expiration:: 3/31/2039
Rental Increases:: 1.25% Annually Starting in Year 11
Lot Size:: 0.74 Acres
Building Size:: 2,748 SF
Year Built:: 1986
Tenant:: KFC

Talk to the pros

Glen Kunofsky

gkunofsky@nnnpro.com

License: 49KU1129178

Josh Kanter

jkanter@nnnpro.com

License: 10401294056

Ilan Bley

ibley@nnnpro.com

License: 10401372865

Broker of record

Brian Brockman

Bang Realty-Pennsylvania, Inc

License: RM432816

Similar Properties

available

available

available

available