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KFC

Westerville, Ohio

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Marcus & Millichap is pleased to present the exclusive listing for a KFC located at 525 S State Street in Westerville, Ohio. The site consists of roughly 2,475 rentable square feet of building space on estimated 0.73-acre parcel of land. This KFC will be subject to a brand new 20-year absolute triple-net (NNN) lease, which will commence at the Close of Escrow. The current annual rent is $67,340 and is scheduled to increase by 1.25% annually starting in year 6 throughout the base term and in each of the 4, 5-year renewal options.

✓ Brand New 20-Year Absolute Triple Net (NNN) Lease to be Signed at Closing
✓ 1.25% Annual Rental Increases Starting in Year 6
✓ Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to
40 Years
✓ Fee Simple Ownership

Key Details

Price:
$1,282,667
Cap Rate:
5.25%
Annual Rent:
$67,340
Address:
525 S. State Street, Westerville, Ohio 43081
Property Type:
Retail
Lease Type:
Absolute Triple Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Close of Escrow
Lease Expiration:
20 Years from Close of Escrow
Lease Term Remaining:
20 Years
Rental Increases:
1.25% Annually Starting Year 6
Lot Size:
.73 Acres
Building Size:
2,475 SF
Year Built:
1989
Year Renovated:
1999
Tenant:
KFC

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Russell Wachtler

License: 10401294048

Robert Stein

License: 10401341647

Broker of record

Michael Glass

License: 2007005898


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