EXCLUSIVE LISTING Offering Memorandum - Kentucky Fried Chicken (KFC) | Albany, GA - LoopNet
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Kentucky Fried
EXCLUSIVE Chicken (KFC) | Albany, GA
LISTING
Offering Memorandum
Kentucky Fried Chicken (KFC) | Albany, GA
Representative Photo
SHEREE STROME, CCIM KEELEE PETERSON
ASSOCIATE DIRECTOR ASSOCIATE DIRECTOR
(404) 900-5629 (404) 492-9469
sstrome@calkain.com kpeterson@calkain.com CCAALLKKAAIIN
N.C
.CO
OMM
1
Kentucky Fried Chicken (KFC) | Albany, GA
Offering Memorandum
Financial Summary
1723 E Oglethorpe Blvd | Albany, GA Rent Schedule
Asking Price $1,800,000 | Cap Rate 5.58% Cap Rate at
Term Increases Annual Rent Monthly Rent
$1,800,000
Net Operating Income (NOI) $100,507
2009 - $85,978.00 $7,164.83 -
Rent/Month $8,375.60
2010 1.75% $87,482.62 $7,290.22 -
Rent/SF $44.55 2011 1.75% $89,013.56 $7,417.80 -
Rentable Square Feet 2,256+/- SF 2012 1.75% $90,571.30 $7,547.61 -
2013 1.75% $92,156.30 $7,679.69 -
Land Area 1.52+/- Acres
2014 1.75% $93,769.03 $7,814.09 -
Tenant Name JRN Inc. 2015 1.75% $95,409.99 $7,950.83 -
2016 1.75% $97,079.66 $8,089.97 -
Guarantor Corporate
2017 1.75% $98,778.56 $8,231.55 -
Ownership Type Fee Simple 2018 1.75% $100,507.18 $8,375.60 5.58%
Lease Type NNN 2019 1.75% $102,266.06 $8,522.17 5.68%
2020 1.75% $104,055.71 $8,671.31 5.78%
Landlord Responsibilities None
2021 1.75% $105,876.69 $8,823.06 5.88%
Store Opened 2009 2022 1.75% $107,729.53 $8,977.46 5.98%
2023 1.75% $109,614.80 $9,134.57 6.09%
Lease Term Remaining 11 Years
2024 1.75% $111,533.06 $9,294.42 6.20%
Rent Commencement January 1, 2009 2025 1.75% $113,484.89 $9,457.07 6.30%
Lease Expiration December 31, 2028 2026 1.75% $115,470.87 $9,622.57 6.42%
2027 1.75% $117,491.61 $9,790.97 6.53%
Increases 1.75% Every Year
2028 1.75% $119,547.71 $9,962.31 6.64%
Options Four (4), Five (5) Year Average Cap 6.10%
2
Kentucky Fried Chicken (KFC) | Albany, GA
Offering Memorandum
Tenant Overview
About JRN, Inc serves more than 12 million customers each day in more than 115 countries and
territories around the world. KFC operates more than 17,000 restaurants in the
JRN, Inc. is a Kentucky Fried Chicken, Taco Bell and Unites States and internationally. KFC’s parent company is Yum! Brands, Inc., the
Pizza Hut Franchisee operating restaurants in the world’s largest restaurant company in terms of system restaurants, with more
Southeast and Midwest regions of the US. They than 40,000 locations in more than 130 countries and territories and employing
operate 155 restaurants in 11 states and are based in more than one million associates. Yum! is ranked number 201 on the Fortune 500
Columbia , TN. list, with revenues exceeding $13 billion in 2012.
KFCFRANCHISE.COM
KFC Corporation
KFC Corporation, based in Louisville, Kentucky, is one of the few brands in America
that can boast a rich, decades-long history of success and innovation. It all started
with one cook who created a soon-to-be world-famous recipe more than 70 years
ago, a list of secret herbs and spices scratched out on the back of the door to his
kitchen. That cook was Colonel Harland Sanders, of course, and now KFC is the
world’s most popular chicken restaurant chain, specializing in that same Original
Recipe® along with Extra Crispy™ chicken, home-style sides and buttermilk
biscuits. There are over 20,500 KFC outlets in more than 125 countries and
territories around the world. And you know what? There’s still a cook in a kitchen
in every last one of them, freshly preparing delicious, complete family meals at
affordable prices.
KFC Franchise
Based in Louisville, Kentucky, KFC Corporation is the franchisor of the world’s
most popular chicken restaurant chain, specializing in Original Recipe®, Extra
Crispy™, Kentucky Grilled Chicken® and Extra Crispy™ Tenders with home-style
sides, Hot Wings™ pieces and freshly made chicken sandwiches. Famous for its
Original Recipe® fried chicken, which is made with the same secret blend of 11
herbs & spices that Colonel Sanders perfected more than a half century ago, KFC
has been serving customers complete, freshly prepared family meals since Colonel
Harland Sanders founded the concept in 1952.
It is estimated that, on average, more than 185 million people see a KFC commercial
at least once a week—that’s more than half the U.S. population. The KFC system
3
Kentucky Fried Chicken (KFC) | Albany, GA
Offering Memorandum
1723 E Oglethorpe Blvd | Albany, GA
Dr
Ogl
eth i son
orp Ed
eB
lvd
21,
970
VPD
Investment Highlights
•• NNN lease with 11 years remaining
•• Established location
•• Signalized intersection
•• Above average store sales
•• 21,970 VPD
•• 5 miles from MillerCoors Albany Brewery
4
Kentucky Fried Chicken (KFC) | Albany, GA
Offering Memorandum
Location Overview
Distance To:
Macon, GA 105 miles Marietta, GA
Atlanta, GA 179 miles
Savannah, GA 227 miles
Atlanta, GA
Columbia, SC 300 miles Columbia, SC
Macon, GA
Savannah, GA
Subject Site
Albany, GA
5
Kentucky Fried Chicken (KFC) | Albany, GA
Offering Memorandum
1723 E Oglethorpe Blvd | Albany, GA
Subject Site
19
d 21,970 VPD
Oglethorpe Blv
Dougherty
Loan & Tax
Luxury Inn
Henderson
Park and
Community Deep South
Center Inn
Oglethorpe Blvd 21,970 VPD
Relax Inn Albany
Fish Fillet
19
Dougherty Middle
School
Dougherty High
School
6
Kentucky Fried Chicken (KFC) | Albany, GA
Offering Memorandum
1723 E Oglethorpe Blvd | Albany, GA
19 Subject Site
Dougherty
Loan & Tax
Luxury Inn
Henderson
Park and
Community
Center Albany Police
Department
China East
Ogleth
orpe B
lvd 21,
970 VP
D
Oglethorpe Blvd 21,970 VPD
Fish Fillet
Dougherty Middle
School
7
Kentucky Fried Chicken (KFC) | Albany, GA
Offering Memorandum
Demographics
Radius 1 Mile 3 Miles 5 Miles
Population
2016 Population 4,324 25,282 53,290
2021 Population 4,262 24,869 52,639
2016 Male Population 46.4% 47.1% 47.1%
2016 Female Population 53.6% 52.9% 52.9%
2016 Median Age 26.9 27.4 31.7
Households
2016 Total Households 1,701 8,018 18,952
2021 Total Households 1,673 7,857 18,682
2016 Average Household Size 2.53 2.79 2.61
Median Household Income
2016 Median Household Income $19,434 $21,484 $24,827
2021 Median Household Income $19,322 $21,765 $25,141
Average Household Income
2016 Average Household Income $27,807 $32,146 $37,629
2021 Average Household Income $28,957 $33,881 $40,027
2016-2021 Annual Rate 0.81% 1.06% 1.24%
Per Capita Income
2016 Per Capita Income $11,075 $12,524 $14,972
2021 Per Capita Income $11,506 $13,126 $15,841
2016-2021 Annual Rate 0.77% 0.94% 1.13%
8
Kentucky Fried Chicken (KFC) | Albany, GA
Offering Memorandum
Market Overview
Albany, GA Floridan Aquifer, an ocean of fresh water that feeds the area’s rivers and creeks
Albany is a city in the U.S. state of Georgia, and is the seat of Dougherty County. and fuels its economy.
Located in southwest Georgia, it is the principal city of the Albany, Georgia Today, although the city is surrounded by pecan groves, pine trees, farms and
metropolitan area. The population was 75,769 at the 2014 U.S. Census, making plantations, almost none of the population is employed in agriculture. It is heavily
it the eighth-largest city in the state. the Albany, Georgia Metropolitan Statistical mechanized. The city itself, however, is surrounded by a river which separates the
Area (MSA) had an estimated population of 157,308 and ranked 252nd in the U.S. two divisions of Albany.
in 2010.
Health care, education and the Marine Corps Logistics Base Albany are the largest
Albany sits at the center of Southwest Georgia, a storied region closely tied employers. Manufacturing, transportation, and retail trade are also important
to America’s early Indian culture, the antebellum age of the Old South and the foundations of Albany’s economy, and the city acts as a hub for commerce in
time-less sport of fishing and hunting. Lying below the land around Albany is the southwest Georgia.
9Kentucky Fried Chicken (KFC) | Albany, GA
Offering Memorandum
About Calkain
Who Are We?
We are a national commercial real estate firm that provides consulting and With the growth in staff, seasoned professionals have been attracted to Calkain’s
brokerage services to both private and institutional clientele with an expertise on model of innovation, entrepreneurship and the fostering of long-lasting and
triple net lease investments. We pride ourselves on being a world class leader by meaningful relationships. Industry experts have joined Calkain in the hopes of
providing our clients a full array of commercial real estate investment brokerage implementing the skills they have honed in complementary aspects of real estate
and asset management solutions, including advisory, research, estate planning investment.
and wealth management. Through a tremendous endeavor, tireless hours have been committed to
We have built solid relationships throughout our decades of experience and continually prove that Calkain is America’s Net Lease Company®. Its countless
innovation, implementing long-term allocation within the context of each client’s accolades received from the world’s leading business publications, including
particular risk tolerance and identifying how best to acquire and dispose of income Forbes™, Fortune™ and the New York Times™ have confirmed that Calkain is a
producing properties for each entities’ specific set of investment criterion. At true leader in triple net lease investing services.
Calkain, our foresight and past performance are leading the net lease investment
industry.
Client Testimonial
Our History
Like most success stories, Calkain was formulated from humble beginnings.
“USRA has worked with Calkain on numerous occasions. They have always been
meticulous in their work ethic, providing superior service and extremely prompt
Jonathan W. Hipp, President and CEO, took the initiative to build upon his
attention to our needs. I highly recommend them.
decades of experience and performance and left a large international brokerage
firm to become an independent and innovative leader within the triple net lease - Jack Genende, Partner | U.S. Realty Advisors, LLC. (USRA)
investment community. Armed with a sole employee and a single office, the firm
has grown exponentially since its infancy in 2005.
$11.5 Billion $350 Million
in Closed Transactions in Active Listings
SHEREE STROME, CCIM KEELEE PETERSON
ASSOCIATE DIRECTOR ASSOCIATE DIRECTOR
(404) 900-5629 (404) 492-9469
sstrome@calkain.com kpeterson@calkain.com CCAALLKKAAIIN
N.C
.CO
OMM
10Contact Us Corporate Headquarters Washington, DC 12930 Worldgate Drive | Suite 150 Herndon, VA 20170 T: (703) 787-4714 • F: (703) 787-4783 Tampa 400 N. Tampa Street | Suite 2660 Tampa, FL 33602 T: (813) 282-6000 • F: (813) 282-6098 South Florida 200 SW 1st Avenue | Suite 880 Fort Lauderdale, FL 33301 T: (954) 302-7365 Atlanta 111 Village Parkway, Building 2 | Suite 202 Marietta, GA 30067 T: (404) 900-5629 Boston 101 Federal Street | Suite 1900 Boston, MA 02110 T: (617) 261-8584 CALKAIN.COM DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regula- tions, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
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