Investment Highlights
- New, 20-Year Triple Net (NNN) Sale-Leaseback
- Property was Recently Remodeled, Completed in January 2021
- Tenant Did Not Seek Rent Relief During Covid-19, and They Didn’t Take Any PPP Money or Loans
- Four, Five-Year Renewal Options with Eight Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
- Lease Commencement Upon Close of Escrow
- Strong Franchisee: Luihn VantEdge Partners, LLC Owns and Operates 169 Restaurants Throughout AZ, FL, NC, SC and VA
- Part of the Raleigh-Durham-Chapel Hill Metro Area with Nearly 2.3 Million People
- Located Between North Duke Street and North Roxboro Street, with a Combined Daily Traffic Count of 51,000 Vehicles
- Two Miles from Interstate 85 with a Daily Traffic Count of Approx. 84,000 Vehicles
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a KFC in Durham, North Carolina. This KFC offers a new, 20-year triple net (NNN) sale-leaseback. This lease has four, five-year renewal options with eight percent rent increases every five years throughout base term and option periods. Property was recently remodeled, completed in January 2021. Tenant did not seek rent relief during covid-19, and they did not take any PPP money or loans.
The subject property is located within the Raleigh-Durham-Chapel Hill metro area with nearly 2.3 million people. North Duke Street and North Roxboro Street has a combined daily traffic count of 51,000 vehicles. Surrounding national retailers include Lowe’s, Staples, Food Lion, Home Depot, Costco Wholesale, Badcock Home Furniture, Rent-A-Center, Burlington, Advance Auto Parts, AutoZone, Starbucks, McDonald’s, Taco Bell, CVS, Circle K, Shell and many more.
KFC is one half mile from Durham Technical Community College Duke Street North Campus, six miles from the main campus, with a total enrollment of more than 19,600 students, and less than two miles from Duke Regional Hospital – located in Durham with 369 beds and over 500 physicians on the medical staff.
Ben Yelm
Broker of Record
License # 303785
(843) 952-2300
