October 14, 2022 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of KFC in Warren, Michigan. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,667,000.
KFC is located at 13785 Thirteen Mile Road in Warren, Michigan. The stand-alone single tenant building consists of 2,138 square feet and sits on a 0.67-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 2019. The absolute triple-net lease currently has 17+ years of term remaining plus two 5-year renewal options. The lease includes an attractive 7% rent increase every 5 years and at the start of each option period. The KFC lease is guaranteed by KBP Foods which operates approximately 850 locations in thirty (30) states. The Property is a pad site to a Kroger grocery store and is well located along 13 Mile Road which sees more than 26,500 vehicles per day. The Property is adjacent to the signalized intersection with Schoenherr Road, the area’s primary commercial corridor which has traffic counts in excess of 49,500 vehicles per day. The area is home to countless national retailers that drive traffic to the area. Additionally, the Property is approximately 2-miles from Macomb Community College which has an enrollment of 16,736 students and Ascension Macomb-Oakland Hospital, a full service hospital with 376 beds.
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.