September 29, 2020 – Brad Canova, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of KFC in Rochester, New York. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,819,000, a 5.25% Cap Rate.
KFC is located at 2222 Lyell Avenue in Rochester, New York. KFC has 19+ years of term remaining on a corporate lease with KBP Foods followed by two 5-Year renewal options. The lease calls for 7.0% rental increases every five years throughout the base term and option periods. The stand-alone building consists of 2,100 square feet, sits on a 0.46 acre lot, and benefits from a drive-thru. The property is well located, with excellent visibility and signage along the Lyell Avenue retail corridor immediately adjacent to the intersection with Interstate 390. KFC benefits from strong area demographics including more than 237,300 people within a 5-mile radius and average traffic counts in excess of 25,000 vehicles per day along Lyell Avenue and an additional 93,750 vehicles pass by the property per day on Interstate 390.
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.