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KFC, Elyria, OH

KFC

Price $2,544,000
Cap Rate 5.50%
NOI $139,898
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 2,968 SF
Lot Size 1.20 acres (52,272SF)
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 SCHEDULED RENTAL INCREASES
» New 20-year 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

HIGH-TRAFFIC LOCATION IN STRONG RETAIL CORRIDOR
» Located just off of the signalized intersection of Chestnut Ridge Road and U.S. Route 20, with excellent visibility and access to 36,783 vehicles per day directly in front of the property
» Convenient access to Highway 10 (31,287 AADT)
» Across from Chestnut Commons, a large retail development anchored by Walmart Supercenter and featuring well-known tenants like Petco, Dollar Tree, Sprint, Kay Jewelers, Rent-A-Center, and more
» The area immediately surrounding the property is slated for future retail development

CENTRAL LOCATION WITH LARGE CUSTOMER BASE
» Minutes from downtown Elyria
» Close to a number of recreational areas, including several parks and golf courses
» Near many schools and medical offices
» Supported by a large customer base, with a population of 92,408 within a fivemile radius

HIGH-QUALITY BUILDING FEATURING DEDICATED DRIVE-THRU
» New building, limiting near-term deferred maintenance or capital costs
» Features dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» Ample on-site and cross-access parking



Property Description

The property is strategically located just off of the signalized intersection of Chestnut Ridge Road and U.S. Route 20, with excellent visibility and access to 36,783 vehicles per day directly in front of the property. Approximately half a mile from the property, U.S. Route 20 provides convenient access to Highway 10, with a traffic count of 31,287 vehicles per day. The property is across from Chestnut Commons, a large retail development anchored by Walmart Supercenter and featuring well-known tenants like Petco, Dollar Tree, Sprint, Kay Jewelers, Rent-A-Center, and more. The property is adjacent to a Mattress Firm and Panera Bread, and the area immediately surrounding the property is slated for future retail development.

The property centrally located just minutes from downtown Elyria. A number of recreational areas are close to the property, including several parks and golf courses, such as Vic Janowicz Memorial Park and Brentwood Golf Club. Several schools and medical offices are also in the nearby area. Additionally, the property is supported by a large customer base, with a population of 92,408 within a five-mile radius.

Contact Us About This Property

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