Freestanding KFC Net
For Sale
$1,193,292
311 US Hwy 31 S, Traverse City, MI 49685
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 Market148
Property Features for 311 US Hwy 31 S
General Information
Standard status
Active
Size
3,179 SF
Lot size
1.96 Acres
Property subtype
Retail
Zoning
C/M
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
3,179 SF
Listing Agency:
Fortis Net Lease
Listed By:
Robert Bender · License #6501323470
(248) 254-3406
Source:
Cpix.resimplifi
Added: May 14
Changed: Oct 1
Last Checked: Oct 7 at 8:35AM
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
Estimated NOI and Cap Rate
NOI / Yr
$42,493
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$849,860
$849.9K
Cap Rate 7%
$607,043
$607.0K
Cap Rate 9%
$472,144
$472.1K
Market Conditions
NOI Build-Up for 3,179 SF
Gross rent
$60.3K $18.96/SF
− Vacancy
−$3.6K −$1.14/SF
EGI
$56.7K $17.82/SF
− OpEx
−$14.2K −$4.46/SF
NOI
$42.5K $13.37/SF
Area
Grand Traverse County, MI
Vacancy
6.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$849,860
Cap Rate 7%
$607,043
Cap Rate 9%
$472,144
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 authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Taco Bell
Dining
17,365 visits/mo
0.4 miles
Demographics for 49685, MI
20,856
Population
9,395
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
95%
High-School Grad
54.2 sq mi
ZIP Area
385
Density / Sq Mi
$82,639
Median Household Income
$45,783
Median Earnings
$1,338
Median Rent
$309,200
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
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 Hwy 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
