KFC
Erie, PA
Key Details
| Price: | $1,280,150 |
|---|---|
| Cap Rate: | 6.00% |
| Annual Rent: | $76,809 |
| Address: | 1116 Parade Street, Erie, Pennsylvania 16503 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 3/31/2019 |
| Lease Expiration: | 3/31/2039 |
| Lease Term Remaining: | 14.5 Years |
| Rental Increases: | 1.25% Annually |
| Lot Size: | 0.74 Acres |
| Building Size: | 2,748 SF |
| Year Built: | 1986 |
NNN Pro is pleased to present the exclusive listing for a KFC located at 1116 Parade Street, Erie, Pennsylvania 16503. The site consists of roughly 2748 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.
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 Street, Erie, Pennsylvania 16503 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 3/31/2019 |
| Lease Expiration: | 3/31/2039 |
| Lease Term Remaining: | 14.5 Years |
| Rental Increases: | 1.25% Annually |
| Lot Size: | 0.74 Acres |
| Building Size: | 2,748 SF |
| Year Built: | 1986 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Josh Kanter
jkanter@nnnpro.com
License: NY: 10401294056
Ryan Mastroianni
rmastroianni@nnnpro.com
License:
Broker of Record
Brian Brockman
Bang Realty-Pennsylvania, Inc
License: RM432816
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.