July 11, 2022 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of KFC in Belmont, North Carolina. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,175,000.
KFC is located at 6813 Wilkinson Boulevard in Belmont, North Carolina. The stand-alone single tenant building consists of 3,682 square feet and sits on a 1.19-acre parcel with a drive thru. KFC has a long operating history at the location and signed a new, 20-year lease at the Property in 2022. The absolute triple-net lease currently has over 19 years of term remaining plus two, 5-year renewal options. The lease includes an attractive 7% rent increase every 5 years throughout the primary lease term and at the start of each option period. The KFC lease is guaranteed by KBP Foods, which operates approximately 820 locations in twenty-seven (27) states. The Property is situated adjacent to the signalized intersection of Wilkinson Boulevard (US Route 29) and Park Street, two of the primary roadways in Downtown Belmont with a combined traffic count in excess of 60,000 vehicles per day. KFC is surrounded by national retailers and is within walking distance of several housing developments, hotels and employers. The Property is also 2-miles from the Belmont Abbey College with more than 1,450 students.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.