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Long John Silver's & KFC 9750 Highway 53 2,952 SF Retail Building Lower Lake, CA 95457 $1,450,000 ($491.19/SF) 6.62% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease
- Established KFC / Long John Silver's Location
- Potential to Increase NOI via Percentage Rent
- Exposure to 18,000 + Vehicles Per Day
EXECUTIVE SUMMARY
ALIVE Commercial Real Estate is pleased to offer this co-branded KFC / Long John Silver's in Lower Lake, CA at an asking price of $1,450,000 / 6.62% Cap Rate. The offering is comprised of a 2,952 SF building with drive-thru situated on a 0.81-acre parcel (both per public records). The lease is Absolute NNN with the current term expiring August 30, 2027. There is 1, 5-year option to follow which includes a 10% increase in rent. The existing 4-unit franchisee has been successfully operating at this location since 2013. KFC / Long John Silver's benefits from exposure of 18,000 + vehicles per day along California Highway 53 as well as its proximity to Clear Lake, which is the largest, natural freshwater lake in California with 68 square miles of surface area. Known as the Bass Capital of the West, Clear Lake supports a wide variety of fish and attracts
fishermen and women from across the United States. As a 2023, the population within the Clearlake Area was estimated to be 16,481 people.
fishermen and women from across the United States. As a 2023, the population within the Clearlake Area was estimated to be 16,481 people.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,952 SF
Building Class
C
Year Built
2005
Price
$1,450,000
Price Per SF
$491.19
Cap Rate
6.62%
NOI
$96,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.81 AC
Zoning
C2
Parking
33 Spaces (11.18 Spaces per 1,000 SF Leased)
Frontage
174’ on Highway 53
AMENITIES
- Corner Lot
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Accommodation and Food Services
- -
- -
- -
KFC, a subsidiary of Yum! Brands, Inc. (NYSE: YUM.), is a global chicken restaurant brand with a rich, decades-long history of success and innovation. It all started with one cook, Colonel Harland Sanders, who created a finger lickin’ good recipe decades years ago, a list of secret herbs and spices scratched out on the back of the door to his kitchen. Today they still follow his formula for success, with real cooks breading and freshly preparing their delicious chicken by hand in tens of thousands of restaurants around the world.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Accommodation and Food Services | - | - | - |
PROPERTY TAXES
| Parcel Number | 024-235-150-000 | Improvements Assessment | $1,461,730 |
| Land Assessment | $464,232 | Total Assessment | $1,925,962 |
PROPERTY TAXES
Parcel Number
024-235-150-000
Land Assessment
$464,232
Improvements Assessment
$1,461,730
Total Assessment
$1,925,962
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Long John Silver's & KFC | 9750 Highway 53
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