Velvet Taco - Sugar Land, TX (Houston MSA)
2330 Highway 6, Sugar Land, TX, 77478, US
PLN 16,807,000
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.
...
Attributes
Asking price
PLN 6,170,000
Cap rate
6.25%
NOI
PLN 385,000
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)
