6219 Belair Road, Baltimore, MD 21206

UNDER-MARKET RENT: $34.66/SF VS. $41.03/SF NATIONAL AVG

Year 1 rent of $90,000 on 2,597 SF prices to $34.66/SF - 15.5% under the national KFC sold average of $41.03/SF (42 transactions). The directly comparable Baltimore-area KFC at 7306 McClean Blvd is on-market at $55.70/SF rent. The lease offers built-in downside protection and meaningful upside through 10% bumps every 5 years.

STRONG QSR & RETAIL COTENANCY

Walmart Supercenter sits 5 blocks south at 8118 Perry Hills Road. The Putty Hill Plaza power center anchors the corridor with retail destinations Giant Food, Dollar Tree, Dunkin', GameStop, Play It Again Sports, Taco Bell, IHOP, and AutoNation Toyota. CVS, Dollar General, Dollar Tree, Pizza Hut, Popeyes, Subway, 7-Eleven, and Dunkin' round out the immediate national/regional cotenancy.

IN THE HEART OF A MASSIVE REVITALIZATION PROJECT

Belair Rd is in the middle of multi-decade public-private corridor revitalization. Active investments inside one mile: Belair Rd Complete Streets project (full resurfacing, signal replacement at Belair/Frankford, ADA upgrades - completion Winter 2027/2028); the City County Corridor Collaboration Pilot (Belair Rd = 1 of 2 pilot corridors); and the Belair-Edison Main Street program - 683 façade grants generating ±$3.6M public investment matched by ±$12.9M private investment along the corridor.

MARYLAND QSRs ARE RARE AND TRADE AT LOW CAP RATES

Maryland QSR all-years average sold cap rate: 4.94% - 4th lowest of any state. Maryland ranks #2 nationally for QSR Average Unit Volume at $2,671,937 per location. Current Maryland QSR on-market average is a 4.50% list cap (10 listings). The directly comparable Baltimore-area KFC at 7306 McClean Blvd is listed at 5.57% - further highlights the subject property's 6.00% pricing.

BRAND NEW 20-YEAR ABSOLUTE NNN LEASE

20-year initial term commencing at close of escrow. 10% rental increases every 5 years. Four (4) 5-year renewal options. Zero landlord responsibilities - tenant covers all taxes, insurance, and maintenance.

KFC: GLOBAL SCALE + U.S. SALES TURNAROUND

±32,951 locations across 150+ countries. 53% of Yum! Brands divisional operating profit. Roughly 3,000 new restaurants opened globally in 2025. After multi-year U.S. declines, the brand posted positive same-store sales for two consecutive quarters in late 2025 (+2% Q3, +1% Q4) under new leadership and following Yum!'s 2025 HQ relocation to Plano, TX.

TOP-TIER BRAND LIQUIDITY

KFC ranks 12th of 58 QSR brands for listing success rate at 66% - top quartile for liquidity. Brand-level average sold cap: 5.57% (tied 11th lowest of all QSR brands tracked). Source: Northmarq National Restaurant Group Cap Rate Guide (2018-2025).