Investment Highlights
- Dual Concept QSR – Taco Bell and KFC Restaurants | Part of a 4-Property QSR Portfolio – or Available Separately (contact listing agents for more info)
- Tenant Has 10 Percent Rent Bump Coming in March of 2024, Bringing Pricing to 4.95% Cap Rate
- 20-Year, Triple Net (NNN) Lease With Approx. 17 Years Remaining
- 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
- Strong Franchisee, Luihn VantEdge Partners Owns and Operates Over 180 Restaurants Throughout AZ, FL, NC, SC and VA
- Average Household Income is $93,125 in One Mile of Subject Property, and $108,099 in Three Miles
- Direct Access to Interstate 40 With More Than 124,000 Vehicles Daily, and Connects the Area to Raleigh
- Five Miles from The University of North Carolina at Chapel Hill With an Enrollment of 31,538 Students and 2,159 Faculty and Staff
- Seven Miles from Duke University, One of the Most Prestigious Colleges in the US, Ranked #9 Best National University by U.S. News & World Report, Enrollment of More Than 15,000 Students
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Taco Bell-KFC in Durham, NC, Raleigh MSA. This dual concept listing is available separately or as part of a 4-Property QSR Portfolio – contact listing agent for more information.
This Taco Bell-KFC offers a long-term, triple net (NNN) lease with no landlord responsibilities and approximately 17 years remaining on the base term. The tenant has a 10 percent rent bump coming in March 2024, bringing the pricing to a 4.95% cap rate. There are 10 percent rent increases every five years throughout the base term and option periods. Luihn VantEdge Partners, LLC is an experienced franchisee who owns and operates over 180 restaurants spanning over five states with more than 4,500 employees.
This Taco Bell-KFC is located in Durham, NC, where the average household income is $93,125 in one mile of Subject Property, and $108,099 in three miles. The property is in a high traffic area where State Highway 54 meets Hope Valley Road with a combined daily traffic count of more than 44,000 vehicles, and direct access to Interstate 40 with more than 124,000 vehicles daily which connects the area to Raleigh, the Capital City of North Carolina. Durham has exceptional demographics and over the last 10 years had explosive population growth in one, three, and five-mile radius.
This Taco Bell-KFC is part of the Raleigh-Durham-Chapel Hill metro, which is home to 2.3 million people and projected to add nearly 261,000 people over the next five years.
The surrounding area is home to several recognized institutions: Five miles from The University of North Carolina at Chapel Hill with an enrollment of 31,538 students; less than seven miles from Durham Technical Community College with a total enrollment of more than 19,600 students; and seven miles from Duke University, one of the most prestigious colleges in the US, ranked #9 Best National University by U.S. News & World Report. The Number of technology and scholarly institutions around Raleigh, Durham and Chapel Hill make the area known as the Research Triangle. Within 20 miles of Durham there are approximately 12 colleges.
Broker of Record
Ben Yelm
Lic #: 303785
