KFC | 20-Yr NNN | 161-Unit Guarantor | TN | 2560 Anderson Ave
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KFC | 20-Yr NNN | 161-Unit Guarantor | TN 2560 Anderson Ave
4,123 SF Retail Building Brownsville, TN 38012 $2,468,000 ($599/SF) 5.85% Cap Rate
Investment Highlights
- New, 20-year NNN lease
- Strong performing location and sales trends | Site produced nearly 12% above the KFC AUV in 2023 | Sales have increased each of that last 3 years
- 1.50% annual rent increases, beginning in Year 7 of the base term | Yields an average CAP of 6.34% over the base lease term (at List Price)
- Lease guaranteed by a 161-unit subsidiary of Tasty Restaurant Group, the 9th largest franchisee group in the U.S. with ±500 units across 6 brands
- Rare, truck rest stop location
- Extremely large parcel at 2.88 acres | Potential upside with future development
Executive Summary
PROPERTY HIGHLIGHTS
• New, 20-year NNN lease
• Lease guaranteed by a 161-unit subsidiary of Tasty Restaurant Group, the 9th largest franchisee group in the U.S. with ±500 units across 6 brands
• Strong performing location and sales trends | Site produced nearly 12% above the KFC AUV in 2023 | Sales have increased each of that
last 3 years, including a 10.6% increase in 2023 | Speak with Agent(s) for details
• Rare, truck rest stop location
• Ideal market share and commuter location
• Located within the only fast-food corridor for an astonishing 54-mile stretch when traveling on I-40 (from Jackson to Arlington
– Also the only fast-food corridor for a 26+ mile stretch on Highway 76 (aka Anderson Ave)
• Only KFC location for a 22+ mile radius
• Corridor includes 4 hotels/inns, McDonald’s, Dairy Queen, Waffle House, Tractor Supply, Shell gas, Marathon Gas, and Sunny Hill
School (382 students)
• The interior of the premises was remodeled in late 2023/early 2024
• 1.50% annual rent increases, beginning in Year 7 of the base term | Yields an average CAP of 6.34% over the base lease term, assuming purchase at List Price
• Located just off an off-ramp/on-ramp to I-40 which boasts ±65,580 VPD
• Extremely large parcel at 2.88 acres | Potential upside with future development
• Excellent access and visibility from Highway 76 (aka Anderson Ave) which sees nearly 18,000 VPD
• About 16 miles Northeast from the monumental BlueOval City development | Ford Motor Company and SK Innovation’s 3,600-acre, 6-square mile mega campus | Go to pg. 16 for more info
• It is the most expensive single investment in Tennessee history with a projected cost of $5.6B and will add about 6,000 full-time jobs and anticipated to generate more than 33,000 new jobs, both directly and indirectly, to support the site’s operations
– Expected to result in $3.5B+ in annual earnings
• Will be one of the most advanced manufacturing complexes anywhere in the world and is one of the biggest expansions of U.S. automaking in decades
• Projected to be operational in 2025 and start manufacturing Ford’s new line of fully electric trucks in 2027
• Entire project will encompass roughly 10MM SF of facilities and warehouses
• Asset is located in an income tax-free state
KFC HIGHLIGHTS
• Ranked #2 on USA Today’s Readers’ Choice 2024 rankings for best fast-food restaurants
• Ranked #3 within the QSR Chicken Segment and #16 Overall by QSR Magazine’s in 2023
• Ranked #3 on Brand Finance’s Restaurant 25 2024 Ranking
• Ranked #10 VSiN’s Fast Food Top 50 Power Rankings in 2024
• Ranked #16 on the 2024 Technomic Top 500 Report for largest restaurant chains in the U.S.
• One of the largest QSRs in the world with over 30,000 stores throughout 145 countries and territories | Nearly 4,000 stores in the U.S.
• Yum! Brands Inc. (NYSE: YUM), the owner of KFC, was ranked the 8th largest QSR company in the world by Investopedia in 2024 with $7.03B in total revenue
• Yum! Brands is the world’s largest restaurant company in terms of systemwide restaurants
• New, 20-year NNN lease
• Lease guaranteed by a 161-unit subsidiary of Tasty Restaurant Group, the 9th largest franchisee group in the U.S. with ±500 units across 6 brands
• Strong performing location and sales trends | Site produced nearly 12% above the KFC AUV in 2023 | Sales have increased each of that
last 3 years, including a 10.6% increase in 2023 | Speak with Agent(s) for details
• Rare, truck rest stop location
• Ideal market share and commuter location
• Located within the only fast-food corridor for an astonishing 54-mile stretch when traveling on I-40 (from Jackson to Arlington
– Also the only fast-food corridor for a 26+ mile stretch on Highway 76 (aka Anderson Ave)
• Only KFC location for a 22+ mile radius
• Corridor includes 4 hotels/inns, McDonald’s, Dairy Queen, Waffle House, Tractor Supply, Shell gas, Marathon Gas, and Sunny Hill
School (382 students)
• The interior of the premises was remodeled in late 2023/early 2024
• 1.50% annual rent increases, beginning in Year 7 of the base term | Yields an average CAP of 6.34% over the base lease term, assuming purchase at List Price
• Located just off an off-ramp/on-ramp to I-40 which boasts ±65,580 VPD
• Extremely large parcel at 2.88 acres | Potential upside with future development
• Excellent access and visibility from Highway 76 (aka Anderson Ave) which sees nearly 18,000 VPD
• About 16 miles Northeast from the monumental BlueOval City development | Ford Motor Company and SK Innovation’s 3,600-acre, 6-square mile mega campus | Go to pg. 16 for more info
• It is the most expensive single investment in Tennessee history with a projected cost of $5.6B and will add about 6,000 full-time jobs and anticipated to generate more than 33,000 new jobs, both directly and indirectly, to support the site’s operations
– Expected to result in $3.5B+ in annual earnings
• Will be one of the most advanced manufacturing complexes anywhere in the world and is one of the biggest expansions of U.S. automaking in decades
• Projected to be operational in 2025 and start manufacturing Ford’s new line of fully electric trucks in 2027
• Entire project will encompass roughly 10MM SF of facilities and warehouses
• Asset is located in an income tax-free state
KFC HIGHLIGHTS
• Ranked #2 on USA Today’s Readers’ Choice 2024 rankings for best fast-food restaurants
• Ranked #3 within the QSR Chicken Segment and #16 Overall by QSR Magazine’s in 2023
• Ranked #3 on Brand Finance’s Restaurant 25 2024 Ranking
• Ranked #10 VSiN’s Fast Food Top 50 Power Rankings in 2024
• Ranked #16 on the 2024 Technomic Top 500 Report for largest restaurant chains in the U.S.
• One of the largest QSRs in the world with over 30,000 stores throughout 145 countries and territories | Nearly 4,000 stores in the U.S.
• Yum! Brands Inc. (NYSE: YUM), the owner of KFC, was ranked the 8th largest QSR company in the world by Investopedia in 2024 with $7.03B in total revenue
• Yum! Brands is the world’s largest restaurant company in terms of systemwide restaurants
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,123 SF
Building Class
C
Year Built
1988
Price
$2,468,000
Price Per SF
$599
Cap Rate
5.85%
NOI
$144,356
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
2.88 AC
Zoning
GC
Parking
42 Spaces (10.19 Spaces per 1,000 SF Leased)
Frontage
152 FT on Anderson Avenue
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
KFC, a subsidiary of Yum! Brands, Inc. (NYSE: YUM.), is a global chicken restaurant brand with a rich, decades-long history of success and innovation. It all started with one cook, Colonel Harland Sanders, who created a finger lickin’ good recipe decades years ago, a list of secret herbs and spices scratched out on the back of the door to his kitchen. Today they still follow his formula for success, with real cooks breading and freshly preparing our delicious chicken by hand in tens of thousands of restaurants around the world.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
PROPERTY TAXES
| Parcel Number | 094I-A-002.00 | Improvements Assessment | $188,000 |
| Land Assessment | $143,040 | Total Assessment | $331,040 |
PROPERTY TAXES
Parcel Number
094I-A-002.00
Land Assessment
$143,040
Improvements Assessment
$188,000
Total Assessment
$331,040
Contacts
-
Gary Chou -
Matt Coates -
Calvin Short -
Aron Cline -
Alexander McDonald -
Berkeley Capital Advisors
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KFC | 20-Yr NNN | 161-Unit Guarantor | TN | 2560 Anderson Ave
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