Velvet Taco - Sugar Land, TX (Houston MSA)
2330 Highway 6, Sugar Land, TX, 77478, US
NZ$7,628,000
Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant KFC at 6904 Highway 6 North in Houston, Texas (“Property” or “Asset”). The Property is operating on a ground lease with ±4.1 years of term remaining, with 15% rent escalations in each 5-year option. The property benefits from a low rent of $102,947, nearly 36 years of operating history, and tenancy by KBP Foods, the largest KFC franchisee in the United States
This unique opportunity allows investors the ability to acquire a low-rent KFC located in a dense commercial corridor within the Houston MSA and operated by the largest American KFC franchise.
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Attributes
Asking price
NZ$2,800,000
Cap rate
6.25%
NOI
NZ$175,000
Lease type
Absolute Triple Net
Remaining lease term
4.1 years
Building area gross
268 m²
Year built
1990
Land area gross
0.32 ha
Media
Investment Highlights
- ±4.1 years of primary term remaining with below-market rent of $102K
- Absolute NNN Ground Lease - Zero landlord responsibilities
- 39+ years of operating history
- Top 27% of most visited KFC locations in Texas (Placer.ai)
- Dense retail corridor, over 6.8M visitors annually at the nearby shopping centers
- 18% Population growth since 2010 within a five-mile radius
- $124K average household income within 5-mile radius
- Outparcel to a Lowe's ranking in the top 6% among visitors in the U.S.
- Adjacent to HWY 6 which intersects with FM 259 Rd with visibility to 93,000+ VPD
- Operated by the largest KFC franchisee in the United States and globally
- #3 quick-service restaurant globally by revenue
Contact brokers
KFC - Houston, TX (0 Properties)
