KFC Meriden
Improved Pricing! | KFC | Recent Remodel | 8.5 years | 6.25% Cap
Marketing description
Colliers Hartford is pleased to present the exclusive opportunity to acquire 722 East Main Street in Meriden, Connecticut, a freestanding KFC restaurant leased to an established franchisee under a long-term, triple-net lease. Positioned along East Main Street, Meriden's primary retail corridor, the property benefits from strong visibility, traffic counts exceeding 15,000 vehicles per day, and immediate proximity to the I-91/I-691/Route 15 interchange, one of the most heavily traveled highway clusters in the state. Meriden is a city of approximately 61,000 residents situated midway between Hartford and New Haven, with a dense consumer base and a retail market that ranks among the most active in the state.
The tenant, Value Foodservice LLC, is a 59+ unit KFC franchisee, operating under a 15-year NNN lease that commenced September 1, 2016. The franchisee exercised its first option in 2021, extending the term through August 31, 2034, with five additional three-year options carrying the lease through 2049. The lease features 6% rent escalations every three years, providing investors with predictable, growing income and no landlord responsibilities.
KFC Meriden is offered at a sale price of $2,485,600 at a 5.75% cap rate.
Investment highlights
Global QSR Brand – KFC The property is leased to Value Foodservice LLC, a 59+ unit KFC franchisee backed by private equity firm BlackBern Partners. KFC is the flagship brand of Yum! Brands (NYSE: YUM), the world's largest restaurant company with over 30,000 KFC locations across 155 countries, providing investors with the stability of one of the most recognized names in quick-service dining.
Dense Consumer Base with Strong QSR Demographics Meriden is home to approximately 61,000 residents within a compact 24-square-mile footprint, generating a population density that consistently supports high-frequency QSR traffic. The city ranks among Connecticut's top markets for total retail sales and food and beverage activity, reflecting a deep and active consumer base in the immediate trade area.
High-Visibility Location Along a Primary Commercial Corridor Situated along East Main Street, Meriden's dominant retail trade area, the property benefits from traffic counts exceeding 15,000 vehicles per day and strong co-tenancy from nearby national operators including Burger King, Dunkin', Subway, and Family Dollar. The location offers excellent visibility and convenient access for both drive-thru and walk-in customers.
Positioned at the Crossroads of Connecticut Meriden sits at the convergence of I-91, I-691, and Route 15, equidistant between Hartford and New Haven. This interchange-proximate location gives the site outstanding regional accessibility and ensures consistent traffic from commuters and pass-through customers in addition to the surrounding residential base.
Passive, Management-Free Investment This is a true triple-net lease with the tenant responsible for taxes, insurance, and maintenance. With built-in 6% rent escalations every three years and a committed lease term running through August 2034 (Option 1 already exercised), the investment delivers predictable, growing cash flow with zero landlord responsibilities.
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