- 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
- No Landlord Responsibilities
- Property Includes Drive-Thru Lane
- Strong Franchisee, Luihn VantEdge Partners Owns and Operates Over 180 Restaurants Throughout AZ, FL, NC, SC and VA
- Part of the Raleigh-Durham-Chapel Hill Metro Area with Nearly 2.3 Million People
Marcus & Millichap is pleased to present the opportunity to acquire a Taco Bell-KFC in Zebulon, NC, Raleigh-Durham 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 off US Route 264 (Interstate-40 ALT) with approximately 58,000 vehicles daily and connecting Zebulon to Raleigh, the Capital City of North Carolina. 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 Subject Property is an outparcel to a Food Lion-anchored shopping center. Other tenants in place include Belk, Aaron’s, Roses Discount Store, Subway, McDonald’s, Little Caesars Pizza, NAPA Auto and Margarita House Bar & Grill.
The surrounding area is home to several recognized institutions including Duke University, one of the most prestigious colleges in the US, ranked #9 Best National University by U.S. News & World Report; The University of North Carolina at Chapel Hill with an enrollment of 31,538 students and 2,159 faculty and staff; and North Carolina State University, the largest public university in North Carolina by enrollment with more than 36,000 students. Duke is the largest employer in the county and the fourth-largest private employer in North Carolina.
Broker of Record
Lic #: 303785