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1120 W University Ave 4,990 SF Retail Building Saint Paul, MN 55104 $3,217,000 ($644.69/SF) 5.75% Cap Rate
Investment Highlights
- Brand New 2026 Remodel to Newest KFC Prototype "Open House Design" - 2nd Store in USA
- 145+ Store Franchisee Lease Guarantee - KFC Preferred Growth Partner
- New 15 Year Absolute NNN Lease Commences at the Close of Escrow
Executive Summary
The subject property is located at 1120 University Avenue West in St. Paul MN. This new KFC is a 4,990 (including basement) square foot freestanding drive-thru
building on a 0.91 acre parcel. This investment is a 15 year absolute triple net lease starting at the close of escrow operated/guaranteed by an experienced 145+ Store
KFC Growth Approved Franchisee. There are 8% increases every 5 years in primary term and continues in the (4) 5-year options to renew beyond primary lease term.
KFC is rolling out a brand overhaul that includes an expanded menu and modernized branding and restaurant designs.“ The brand is set to open a new generation of
spaces designed for hospitality, not just efficiency, with environments that feel more dynamic and adapt throughout the day to meet different occasions,” the fried
chicken chain announced in a recent news release detailing the revamp. “The first expressions of these newly designed spaces include an open-concept design in
McKinney, Texas, reinterpreting the brand’s heritage with modern energy, expected to open late summer.” The prototype eatery will be called Open House, KFC President
Catherine Tan-Gillespie told Restaurant Business.
building on a 0.91 acre parcel. This investment is a 15 year absolute triple net lease starting at the close of escrow operated/guaranteed by an experienced 145+ Store
KFC Growth Approved Franchisee. There are 8% increases every 5 years in primary term and continues in the (4) 5-year options to renew beyond primary lease term.
KFC is rolling out a brand overhaul that includes an expanded menu and modernized branding and restaurant designs.“ The brand is set to open a new generation of
spaces designed for hospitality, not just efficiency, with environments that feel more dynamic and adapt throughout the day to meet different occasions,” the fried
chicken chain announced in a recent news release detailing the revamp. “The first expressions of these newly designed spaces include an open-concept design in
McKinney, Texas, reinterpreting the brand’s heritage with modern energy, expected to open late summer.” The prototype eatery will be called Open House, KFC President
Catherine Tan-Gillespie told Restaurant Business.
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
4,990 SF
Building Class
B
Year Built
1983
Price
$3,217,000
Price Per SF
$644.69
Cap Rate
5.75%
NOI
$185,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.92 AC
Opportunity Zone
Yes
Zoning
T4 - Traditional Neighborhood
Parking
50 Spaces (10.02 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
Moderately walkable
70/100
Exceptionally drivable
100/100
Strong public transit
80/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 34-29-23-41-0001 | Improvements Assessment | $128,700 |
| Land Assessment | $1,400,400 | Total Assessment | $1,529,100 |
Property Taxes
Parcel Number
34-29-23-41-0001
Land Assessment
$1,400,400
Improvements Assessment
$128,700
Total Assessment
$1,529,100
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