1116 Parade St - Fast Food FOR SALE


Erie, PA 16503
$1,250,000 USD
617-865-1145
1116 Parade St, Erie, PA for Sale
$1,250,000 USD
Fast Food - FOR SALE
1/2
null | 6.14% Cap Rate

1116 Parade St
Erie, PA 16503


HIGHLIGHTS

  • Long Term 20-Year NNN Lease | This KFC is subject to a 20-year NNN Lease with over 14 years remaining on the lease. The lease is absolute triple-net
  • Strong Guarantee | The lease is backed by Morgan Foods, Inc., a wellestablished franchisee with 68 units, providing a robust guarantee
  • Long Term Operating History | KFC has maintained a successful operating history at this location for 39 years

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 that commenced on 3/31/2019 and is set to expire on 3/31/2039. The current annual rent is $76,809 and has scheduled increases of 1.25% annual increases starting in year 11.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$455 USD /SF

CAP RATE

6.14%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

KFC

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

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

Josh KanterNNN Pro GroupMore Info
617-865-1145

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Josh KanterNNN Pro GroupMore Info
617-865-1145

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