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    1116 Parade St Erie, PA 16503

    For Sale
    $1,250,000

    Long-term NNN lease with established franchisee in Erie, PA.

    Property size:
    2,748 SF
    Lot size:
    0.74 Acres

    Property Features for 1116 Parade St

    General Information

    Size
    2,748 SF
    Lot size
    0.74 Acres

    Source: NNN Pro Group Agent Josh Kanter

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Established KFC Restaurant For Sale

    This KFC property is available for sale and is subject to a long-term 20-year NNN lease, with over 14 years remaining. The lease is absolute triple-net (NNN), assigning zero responsibilities to the landlord. The lease is guaranteed by Morgan Foods, Inc., a franchisee operating 68 units. KFC has a long-term operating history at this location, maintaining a presence for 39 years. The property is suitable for drive-through restaurants, restaurants, retail properties, NNN properties, and specialty properties. The building size is 2748 square feet and is located in Erie, PA.
    Insight Report Location Intelligence

    Current Use by Public Records

    KFC Chicken Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.073419
    Latitude
    42.127583

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    FAQs

    What type of property is this?
    Drive through restaurant - Long-term NNN lease with established franchisee in Erie, PA.
    Where is this drive through restaurant located?
    The property is located at 1116 Parade St Erie, PA.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - Long-term NNN Lease: Over 14 years remaining, offering zero landlord responsibilities.; - Strong Guarantee: Lease backed by Morgan Foods, Inc., a franchisee with 68 units.; - Established Operating History: KFC has operated successfully at this location for 39 years.
    (332) 345-2408
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    1116 Parade St Erie, PA 16503
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    Erie, PA 16503
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1116 Parade St Erie, PA 16503
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