948 Mason AveDaytona Beach, FL 32117
KFC
New 20-Year Absolute NNN Lease
Overview
Initial Lease Term: 20 Years
Lease Term Remaining: 20 Years
Lease Type: Absolute Triple-Net
Rent Commencement: 10/1/2024
Expiration Date: 9/30/2044
Roof & Structure: Tenant
Rent Increases: 1.5% Annual Increases Beginning Year 7
Options: 4 x 5-Year
Guarantor: 161-Unit Franchisee
Investment Highlights
- 20-Year absolute triple-net (NNN) of a free-standing KFC QSR in Daytona Beach, FL. The lease features 1.50% annual increases beginning in year seven, four five-year options, and a strong guarantee. The Lease commenced on October 1st, 2024, and is currently set to expire on September 30th, 2044.
- The tenant is Tasty Chick’n Southeast, LLC & the guarantor is Tasty Chick’n, LLC, providing a 161-unit lease guarantor.
- Tasty Restaurant Group (“TRG”) provides management services to both the tenant and guarantor entities. TRG is one of the largest multi-brand QSR operators in the nation and 2nd largest KFC operator. TRG oversees 6 brands across 19 states, collectively operating over 400 restaurants.
- The Subject Property ranks in the 92nd percentile (consumer foot traffic) of all KFC locations at the national (241/3,092) and state (18/219) levels.
- Signalized hard corner location at the intersection of N Nova Rd and Mason Ave, (combined 57,000+ VPD). It is across from Holly Hill Plaza, a 222K SF shopping center with 2M+ visits in the last twelve months.
- The Subject Property is 3.2 miles from Daytona International Speedway. It is home to the Daytona 500, which attracts roughly 150,000-175,000 attendees, and the Motorsports Hall of Fame of America, which sees 100,000+ visitors annually. The subject property is the same distance to Daytona Beach International Airport, which had 719,775 incoming and outgoing passengers in 2023 (up 25.1% from 2022).
Photo Gallery
948 Mason AveDaytona Beach, FL 32117
Daytona International Speedway (3.2 Miles from Subject Property)
Daytona Beach International Airport (3.3 Miles from Subject Property)
Daytona Beach Pier and Boardwalk (3 Miles from Subject Property)
Sales Team
Listing provided by Revere CRE