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642 W Olive Ave 3,304 SF Retail Building Porterville, CA 93257 $2,286,000 ($691.89/SF) 5.25% Cap Rate
Investment Highlights
- HIGH VOLUME STORE - 4.80% Rent vs. Sales
- 145+ Store Franchisee Lease Guarantee - KFC Franchisee of the Year Award Winner
- NEW 15 Year Absolute NNN Lease with (4) 5 Year Options
Executive Summary
The subject property is located at 642 West Olive Avenue in Porterville CA. This KFC is a 3,304 square foot freestanding drive-thru building on a 0.55 acre parcel. This
investment is a new 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.
investment is a new 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.
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
3,304 SF
Building Class
B
Year Built/Renovated
2006/2018
Price
$2,286,000
Price Per SF
$691.89
Cap Rate
5.25%
NOI
$120,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.55 AC
Zoning
C3
Parking
20 Spaces (6.05 Spaces per 1,000 SF Leased)
Frontage
41’ on W Olive Ave
Amenities
- Restaurant
- Drive Thru
Walk Score®
Very Walkable (71)
Nearby Major Retailers
Property Taxes
| Parcel Number | 252-293-037-000 | Improvements Assessment | $951,253 |
| Land Assessment | $558,291 | Total Assessment | $1,509,544 |
Property Taxes
Parcel Number
252-293-037-000
Land Assessment
$558,291
Improvements Assessment
$951,253
Total Assessment
$1,509,544
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642 W Olive Ave
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