Freestanding KFC Net
311 US Highway 31 S Traverse City, MI 49685
For Sale
Contact for pricing
Freestanding KFC on a 1.96-acre parcel along US-31, secured by a 20-year triple net lease.
Property Size3,179 SF
Lot Size1.96 Acres
Price / SF$375.37
Days on Market76
Property Features for 311 US Highway 31 S
General Information
- Standard status
- Active
- Size
- 3,179 SF
- Lot size
- 1.96 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2000
Listing Agency:
Fortis Net Lease
(248) 254-3406
Listed By:
Robert Bender · License #MI 6501323470
Source:
Crexi
Added: May 13
Changed: Jul 23
Last Checked: Jul 26 at 3:58PM
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 Fortis Net Lease
Investment Insights
Based on property information with market context.
Fortis Net Lease presents a freestanding KFC investment property on a 1.96-acre parcel along US-31. The building is approximately 3,179 square feet and is secured by a 20-year triple net (NNN) lease. Under the lease structure, the tenant is responsible for taxes, insurance, and maintenance, reducing landlord responsibilities.
Located on US-31 in Traverse City, the site benefits from visibility and accessibility along a primary commercial corridor. The offering is presented as a long-term, secured income stream backed by an established national quick-service tenant.
The property is identified as generating current net operating income (NOI) of $77,564 annually. While specific rent escalations and renewal terms are not provided, the long-term lease structure is positioned to help reduce near-term rollover risk.
Located on US-31 in Traverse City, the site benefits from visibility and accessibility along a primary commercial corridor. The offering is presented as a long-term, secured income stream backed by an established national quick-service tenant.
The property is identified as generating current net operating income (NOI) of $77,564 annually. While specific rent escalations and renewal terms are not provided, the long-term lease structure is positioned to help reduce near-term rollover risk.
Key Highlights
- Freestanding KFC building totaling approx. 3,179 SF on a 1.96‑acre parcel at 311 US‑31, Traverse City, MI
- Secured by a 20‑year triple net (NNN) lease with tenant responsibility for taxes, insurance, and maintenance
- Current net operating income (NOI) of $77,564 annually
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.3k | $18.96 |
| − Vacancy | −$3.6k | −$1.14 |
| EGI | $56.7k | $17.82 |
| − OpEx | −$14.2k | −$4.46 |
| NOI | $42.5k | $13.37 |
3,179 SF · lease $18.96/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$607.0K
$531.2K – $708.2K
NOI $42,493 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.6K
$604.3K – $805.7K
NOI $48,341 @ 7.0% cap · market cap 4.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
FAQs
What type of property is this?
NNN property - Freestanding KFC on a 1.96-acre parcel along US-31, secured by a 20-year triple net lease.
Where is this nnn property located?
The property is located at 311 US Highway 31 S Traverse City, MI.
What is the asking price?
The asking price for this property is $1,193,292.
What are key features of this property?
This property features: Freestanding KFC building totaling approx. 3,179 SF on a 1.96‑acre parcel at 311 US‑31, Traverse City, MI; Secured by a 20‑year triple net (NNN) lease with tenant responsibility for taxes, insurance, and maintenance; Current net operating income (NOI) of $77,564 annually
