KFC Plainwell,Michigan

$1,396,114
Not Available
Property type:Single-Tenant Net Lease

The space

  • Listing Price: $1,396,114
  • Cap Rate: 5.25%
  • NOI: $73,300
  • Gross SF: 3,128
  • Guarantor: Franchisee Guarantee
  • Lease Type: Triple Net (NNN)
  • Lot Size: 0.90 Acres
  • Year Built: 1999
  • Lease Expiration: 9/30/2038

Description

1246 M-89
Plainwell, Michigan 49080

Investment Highlights

  • 20-Year Triple Net (NNN) Lease with More Than 17 Years Remaining on Base Term
  • Property was Remodeled in 2016 with Newest KFC Prototype
  • Two, Five-Year Renewal Options with Five Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • KFC Operates More Than 24,000 Restaurants in the Unites States and Internationally
  • KBP Foods is the Largest KFC Franchisee in the U.S., and Owns and Operates 720 Locations Including KFC, Taco Bell and Long John Silver’s Concepts
  • Surrounding National Retailers Include The Home Depot, Meijer Supermarket, Walmart Supercenter, Aldi, Tractor Supply Company, Rent-A-Center, Dollar Tree, Dollar General, AutoZone, Applebee’s, Taco Bell, McDonald’s, Game Stop and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a KFC in Plainwell, MI. This KFC has a 20-year triple net (NNN) lease with more than 17 years remaining on the base term. This lease offers two, five-year tenant renewal options with five percent rent increases every five years throughout the base term and option periods. The property was renovated in 2016 and guests now enjoy a brand new interior. This location is owned and operated by KBP Foods which is the largest KFC franchisee in the country. KBP Foods has 720 quick service restaurant locations, including KFC, Taco Bell and Long John Silver’s concepts.

The property is located on M-89/Allegan Street with more than 29,000 vehicles per day, and a half mile from US Highway 131 connecting Plainwell to Grand Rapids and Kalamazoo, with a daily traffic count of more than 40,000 Vehicles. Surrounding National Retailers Include The Home Depot, Meijer Supermarket, Walmart Supercenter, Aldi, Tractor Supply Company, Rent-A-Center, Dollar Tree, Dollar General, AutoZone, Applebee’s, Taco Bell, McDonald’s, Game Stop and Many More.

The subject property is 13 miles north of Kalamazoo, 36 Miles south of Grand Rapids, and 73 miles southwest of Lansing. KFC is also 35 Miles west of Lake Michigan, supplying a vast supply of freshwater. Food manufacturers such as Kellogg’s and Sara Lee gave significant operations in the nearby Grand Rapids Metro. Covering nearly a square mile in Downtown Grand Rapids, the Medical Mile has garnered billions in investment over the past 15 years, boosting job growth in healthcare and biotechnology.

Steve Chaben
Broker of Record
(248) 415-2600
Lic #: 6502387903

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