642 W Olive Ave - Fast Food FOR SALE


Porterville, CA 93257
$2,286,000 USD
425-829-9091
642 W Olive Ave, Porterville, CA for Sale
$2,286,000 USD
Fast Food - FOR SALE
1/3
null | 5.25% Cap Rate

642 W Olive Ave
Porterville, CA 93257


HIGHLIGHTS

  • HIGH VOLUME STORE - 4.80% Rent vs. Sales
  • NEW 15 Year Absolute NNN Lease with (4) 5 Year Options
  • 145+ Store Franchisee Lease Guarantee - KFC Franchisee of the Year Award Winner

OVERVIEW

The subject property is located at 642 West Olive Avenue in Porterville CA. This KFC is a 3,304 square foot freestanding drive-thru building on a 0.55 acre parcel. This investment is a new 15 year absolute triple net lease starting at the close of escrow operated/guaranteed by an experienced 145+ Store KFC Growth Approved Franchisee. There are 8% increases every 5 years in primary term and continues in the (4) 5-year options to renew beyond primary lease term.

FOR SALE DETAILS

PRICE

$2,286,000 USD

PRICE/SF

$973 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

23,958 SF

ZONING

C3

APN/PARCEL ID

252-293-037-000

ASK ABOUT THIS PROPERTY

Aaron HinesMarcus & MillichapMore Info
425-829-9091

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Aaron HinesMarcus & MillichapMore Info
425-829-9091

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.