Current Use by Public Records
- Retail properties & Spaces
Property Details for 0 Us Highway 23
- Year built
- 1980
- Lot size
- 0.40 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This fee-simple ownership opportunity presents a 100% occupied, absolute NNN-leased KFC and Taco Bell in Portsmouth, Ohio. The property boasts a 15.7-year remaining lease term with two 5-year renewal options, featuring 7% rent increases every five years, ensuring consistent NOI growth. The 0.4-acre lot includes 32 parking spaces and is strategically located on US-23, a major retail thoroughfare with over 16,100 vehicles passing daily. The property benefits from a strong retail corridor with numerous national tenants, including Aldi, Big Lots, and Wendy's, driving significant consumer traffic. Built in 1980 and renovated in 2017, this property is zoned commercial and enjoys proximity to major employers like Southern Ohio Medical Center (over 3,000 employees) and Shawnee State University (over 3,900 students). The 5-mile trade area supports a population exceeding 29,127, with an average household income of $61,439 and an employee population of 19,388. The asking price is $2,549,000, representing a 5.75% cap rate and a net operating income (NOI) of $146,590. This management-free investment offers significant long-term value and passive income potential. The property's APN is 05-0561.000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portsmouth
- County
- Scioto
- State
- Ohio
- Longitude
- -82.990065
- Latitude
- 38.761516
