1116 Parade St - Fast Food FOR SALE


Erie, PA 16503
$1,280,150 USD
332-345-4222
1116 Parade St, Erie, PA for Sale
$1,280,150 USD
Fast Food - FOR SALE
1/2
null | 6% Cap Rate

1116 Parade St
Erie, PA 16503


HIGHLIGHTS

  • 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.

OVERVIEW

NNN Pro is pleased to present the exclusive listing for a KFC located at 1116 Parade Street, Erie, PA 16503. The site consists of roughly 2,748 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 Starting in Year 11.

FOR SALE DETAILS

PRICE

$1,280,150 USD

PRICE/SF

$466 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

KFC

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.74 AC

LAND SF

32,234 SF

ZONING

GC

APN/PARCEL ID

15-020-017.0-101.00

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.