440 Chestnut St | Portsmouth, VA 23704
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- LoopNet Team
440 Chestnut St
Portsmouth, VA 23704
KFC – PORTSMOUTH, VA · Retail Property For Sale
Investment Highlights
- 11 years remaining on initial 20-year Absolute NNN lease with attractive 10% rental escalations every 5 years with four 5-year options to renew.
- Will generate sales in excess of $1 billion in 2023 (FQSR, LLC is the tenant on the lease, encompasses all restaurant locations)
- Priced well below replacement cost with excellent drive-by visibility/access on London Blvd (VA-141) where traffic counts exceed 18,530 CPD!
- KBP Foods (the largest KFC franchisee in the U.S.) operates ±840 locations in 28 states (+20% of KFC locations in the U.S. system)
- Successfully open & operating for decades and fully remodeled to the latest American Showman prototype - showing tenant’s commitment to this location
- 2023 DEMOGRAPHICS: Total Population (5-MI): 246,797 | Average Household Income (1-MI): $90,667
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
2,644 SF
Building Class
C
Year Built/Renovated
2002/2014
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.80 AC
Zoning
D-2
Frontage
Amenities
- Bus Line
- Pylon Sign
PROPERTY TAXES
| Parcel Number | 0024-1120 | Improvements Assessment | $260,170 |
| Land Assessment | $768,230 | Total Assessment | $1,028,400 |
PROPERTY TAXES
Parcel Number
0024-1120
Land Assessment
$768,230
Improvements Assessment
$260,170
Total Assessment
$1,028,400
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