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KFC, Maple Heights, OH

KFC

Price $2,544,000
Cap Rate 5.50% Return (7.86% average cap rate)
NOI $139,885
Lease Term 20 Years
Lease Type Absolute NNN, with Tenant Responsible for all Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2019
Building Size 2,677 SF
Lot Size 0.91 Acres (39,639 SF)
Status Available
Lead Broker Information Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

LONG-TERM ABSOLUTE NNN LEASE WITH RENTAL INCREASES
» New 20-year absolute NNN lease to iconic tenant
» No landlord management, ideal for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
» Operated by Mitra QSR, one of the largest franchisees in the U.S. and the fourth largest domestic franchisee of KFC restaurants with over 208 locations and continuing to expand

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located just off of the signalized intersection of Warrensville Center Road and Rockside Road, which experiences a high traffic volume of 33,427 vehicles per day
» Convenient access to two major freeways: Interstate 480 (169,339 AADT) and Interstate 271 (82,867 AADT)
» Outparcel to the Liberty Ford car dealership, the first site along the Bedford Automile, comprised of 26 automobile dealerships providing the largest selection of new and used vehicles anywhere in Ohio
» Near Southgate USA, a large shopping center featuring well-known tenants like Home Depot, Giant Eagle Supermarket, Rite Aid, O’Reilly Auto Parts, and more

CENTRAL LOCATION WITH STRONG CUSTOMER BASE
» Minutes from downtown Maple Heights
» Near several schools, including Milkovich Middle School (817 students), Maple Heights High School (1,043 students), and Bedford High School (1,055 students)
» The population in a three-mile radius of the property increases during business hours, with 79,685 daytime employees working in this area
» 180,863 residents live and 165,983 daytime employees work within a five-mile radius

HIGH-QUALITY BUILDING FEATURING DEDICATED DRIVE-THRU
» New building, built to Tenant’s specifications
» Features dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» Ample onsite and cross-access parking


Property Description

The property is strategically located just off of the signalized intersection of Warrensville Center Road and Rockside Road, which experiences a high traffic volume of 33,427 vehicles per day. The property enjoys convenient access to two major freeways: Interstate 480 (169,339 AADT) and Interstate 271 (82,867 AADT). Located in a dense retail corridor, the property is outparcel to the Liberty Ford car dealership, the first site along the Bedford Automile, comprised of 26 automobile dealerships providing the largest selection of new and used vehicles anywhere in Ohio. The property is just south of Southgate USA, a large shopping center featuring well-known tenants like Home Depot, Giant Eagle Supermarket, Rite Aid, O’Reilly Auto Parts, and more. Other notable retailers in the nearby area include Save-A-Lot, Circle K, Advance Auto Parts, Dollar General, and Key Bank, amongst many others.

The property is centrally located just minutes from downtown Maple Heights. Several schools are in the nearby area, including Milkovich Middle School (817 students), Maple Heights High School (1,043 students), and Bedford High School (1,055 students). The property is close to many major employers; 165,983 daytime employees work within five miles of the property. The population in a three-mile radius of the property increases during business hours, with 79,685 daytime employees working in this area. Additionally, the property is supported by a large customer base, with a population of 180,863 within a five-mile radius.

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