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KFC & Taco Bell, Athens, GA

KFC & Taco Bell

GA, USA

Price $1,200,000
Cap Rate
NOI
Lease Term 21 Years Remaining
Lease Type Absolute NNN Ground Lease, with Tenant Responsible for All Taxes, Insurance, Utilities, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2014 (Year Remodeled)
Building Size 2,107 SF
Lot Size 0.70 Acres (30,492 SF)
Status Sold
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Cushman & Wakefield
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

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Georgia-licensed real estate broker Delta Commercial.

Investment Highlights

LONG-TERM ABSOLUTE NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» No landlord management, ideal for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
» Long-term operating history since 1989, plus recent 20-year lease extension, demonstrating commitment to the location
» Operated by a subsidiary of KBP Foods, one of the nation’s largest Yum! Brands franchisees, with 567 KFC and Yum! Brand restaurants across 21 states in the U.S.

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 34,300 vehicles per day on Atlanta Highway
» Convenient access to Athens Perimeter (39,200 AADT)
» Outparcel to Athens West, a large shopping center tenanted by Ingles Market, Anytime Fitness, Big Lots, MetroPCS, Citi Trends, and more
» Close proximity to Georgia Square Mall, a super-regional mall anchored by JCPenney, Belk, and Sears

CENTRAL LOCATION WITH STRONG CUSTOMER BASE
» Near the University of Georgia, the largest college in the state and the largest employer in the area, with over 37,600 students and 10,655 employees
» Minutes from several of the region’s largest employers, including Piedmont Athens Regional Medical Center (over 3,300 employees), St. Mary’s Health Care System (2,090 employees), Caterpillar (1,700 employees), and Pilgrim’s (1,650 employees)
» Affluent demographics, with high average household incomes of $100,637 within a one-mile radius and $80,972 within a three-mile radius
» Population of 92,542 within a five-mile radius, providing a large customer base in the surrounding area

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is strategically located on Atlanta Highway, one of the area’s main thoroughfares, with excellent visibility and access to 34,300 vehicles per day directly in front of the property. Approximately half a mile from the property, Atlanta Highway provides convenient access to Athens Perimeter, another primary route with a traffic count of 39,200 vehicles per day. The property is outparcel to Athens West, a large retail center anchored by well-known tenants, including Ingles Market, Big Lots, and Citi Trends. The property is a short distance from Georgia Square Mall, a super-regional mall anchored by JCPenney, Belk, and Sears. Other notable tenants near the property include Target, Academy Sports + Outdoors, Barnes & Noble, Walmart Neighborhood Market, and Dollar Tree, amongst others.

The property is close to several important community amenities. The property is minutes from the University of Georgia, which is the largest college in the state and has a total enrollment of over 37,600 students. Several of the region’s largest employers are located near the property, including University of Georgia (10,655 employees), Piedmont Athens Regional Medical Center (over 3,300 employees), St. Mary’s Health Care System (2,090 employees), and Caterpillar (1,700 employees). A number of recreational areas are also nearby, including several parks, Jennings Mill Golf Course, and Athens Country Club. Additionally, the property is supported by a large, affluent customer base, with an average household incomes of $100,637 within a one-mile radius and a population of 92,542 within a five-mile radius.

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