Freestanding Drive-Thru Restaurant
For Sale
Contact for pricing
1225 TIFFIN AVE, Findlay, OH 45840
Absolute NNN lease with drive-thru functionality and a corporate-backed guarantee for long-term tenant responsibility.
Property Size2,901 SF
Lot Size0.84 Acres
Price / SF$456.74
Days on Market54
Property Features for 1225 TIFFIN AVE
General Information
Standard status
Active
Size
2,901 SF
Lot size
0.84 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$74,900
Additional Details
Traffic Count
23,500 vehicles/day
Building Details
Year Built
1972
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Encore Real Estate Investment Services
(248) 702-0288
Listed By:
Deno Bistolarides · License #6502378067
Source:
Crexi
Added: Jun 29
Changed: Aug 17
Last Checked: Aug 20 at 9:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
The property is a 2,901 SF freestanding former KFC built on 0.84 acres, featuring a functional drive-thru layout designed for quick service operations. The site is operated under a net-leased structure on an absolute NNN basis, with tenant responsibility for taxes, insurance, CAM, roof, and structure.
The asset is located at 1225 Tiffin Ave in Findlay, Ohio, along the city’s premier retail corridor. Public remarks describe the location as high-traffic Tiffin Avenue (US-224) with over 23,500 vehicles per day, providing visibility and convenient access for passing motorists. Nearby national brands referenced in the remarks include Taco Bell, Circle K, Burger King, Five Guys, Chick-fil-A, Raising Cane’s, and Jimmy John’s.
For investors or owner-operators seeking a stabilized, tenant-responsible retail asset, this offering provides an absolute NNN lease with 14+ years remaining through August 2040. The lease is guaranteed by FQSR LLC d/b/a KBP Foods, identified in the remarks as the largest KFC franchisee operator in the U.S. The drive-thru configuration and freestanding site support continuity of quick-service use under the existing lease structure.
The asset is located at 1225 Tiffin Ave in Findlay, Ohio, along the city’s premier retail corridor. Public remarks describe the location as high-traffic Tiffin Avenue (US-224) with over 23,500 vehicles per day, providing visibility and convenient access for passing motorists. Nearby national brands referenced in the remarks include Taco Bell, Circle K, Burger King, Five Guys, Chick-fil-A, Raising Cane’s, and Jimmy John’s.
For investors or owner-operators seeking a stabilized, tenant-responsible retail asset, this offering provides an absolute NNN lease with 14+ years remaining through August 2040. The lease is guaranteed by FQSR LLC d/b/a KBP Foods, identified in the remarks as the largest KFC franchisee operator in the U.S. The drive-thru configuration and freestanding site support continuity of quick-service use under the existing lease structure.
Key Highlights
- 2,901 SF freestanding former KFC on 0.84 acres with drive‑thru functionality
- Absolute NNN lease: tenant responsibility for taxes, insurance, CAM, roof, and structure
- 14+ years remaining through August 2040
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,642
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,132,840
$1.1M
Cap Rate 7%
$809,171
$809.2K
Cap Rate 9%
$629,356
$629.4K
Market Conditions
NOI Build-Up for 2,901 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$78.3K $27.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$75.5K $26.03/SF
− OpEx
−$18.9K −$6.51/SF
NOI
$56.6K $19.53/SF
Area
Hancock County, OH
Vacancy
3.58%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,132,840
Cap Rate 7%
$809,171
Cap Rate 9%
$629,356
Alternative Uses
Best Use
Specialty Retail
$809.2K
$708.0K – $944.0K
NOI $56,642 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
23,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 29%
Electronics 3%
Taco Bell
Dining
16,763 visits/mo
0.0 miles
KFC
Dining
6,894 visits/mo
0.1 miles
Circle K
Shops & Services
5,709 visits/mo
0.1 miles
Captain D's
Dining
4,176 visits/mo
0.1 miles
Tim Hortons
Dining
4,123 visits/mo
0.0 miles
Demographics for 45840, OH
54,901
Population
25,396
Households
2.2
Avg Household Size
40
Median Age
33%
College-Educated
95%
High-School Grad
166.5 sq mi
ZIP Area
330
Density / Sq Mi
$64,076
Median Household Income
$42,546
Median Earnings
$934
Median Rent
$203,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Absolute NNN lease with drive-thru functionality and a corporate-backed guarantee for long-term tenant responsibility.
Where is this drive through restaurant located?
The property is located at 1225 TIFFIN AVE Findlay, OH.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 2,901 SF freestanding former KFC on 0.84 acres with drive‑thru functionality; Absolute NNN lease: tenant responsibility for taxes, insurance, CAM, roof, and structure; 14+ years remaining through August 2040
