Former QSR (Tenant Dark)
Retail | 6.04% CAP
Marketing description
This recently remodeled former KFC building (tenant is dark) is backed by one of the largest quick-serve restaurant franchisees in North America for the remaining term of just under ten years. The Absolute Net Lease structure of this deal makes this a true "mailbox money" opportunity through the end of 2034, or choose to retenant the building with the added value of a recent renovation in 2022. Highest and best uses for this property include restaurant, coffee shop, bank, pharmacy, medical, or gas.
Investment highlights
Tenant vacated - building is dark
Building renovated in 2022
High-value existing restaurant with drive-thru location at hard corner
Fronting primary connector between Marion and Cedar Rapids with over 15,000 VPD
Strong demographical location with over 250,000 residents in the MSA
Lease guaranteed for the next appx 10 years by a 340-unit operator
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