November 15, 2019 – Luke Thomson of Horvath & Tremblay has successfully completed the sale of KFC in Burton, Michigan. Horvath & Tremblay exclusively represented the 1031 exchange buyer to complete the transaction at a sale price of $2,000,568, a 5.72% cap rate.
KFC is located 1195 North Belsay Road in Burton. The new construction, stand-alone building consists of 2,150 square feet and sits on a 0.554 acre lot. KFC signed a new 20-year absolute triple net (NNN) lease with 7.0% rent increases every five years. This Property is operated by the largest KFC franchisee in the United States. The property enjoys outstanding store sales, tracking to hit a 7.99% rent to sales ratio. Additionally, the property benefits from outstanding demographics and traffic counts. The property, which is a pad site to Walmart is accessible from Interstate 69 and offers access to numerous national retailers.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.