104 Pike St Grafton, WV 26354

Property Details for 104 Pike St

Year built

1935

Lot size

0.12 lot acres

Property size

1,440 SF

Property type

Drive through restaurants

APN

46-01- 7-0120.0000

APU

4601701200000

Description

This exceptional investment opportunity presents a 2,862 square foot KFC quick-service restaurant situated on a 0.32-acre lot in Grafton, West Virginia. The property boasts a highly favorable absolute NNN lease with 14.4 years remaining, plus two five-year options, ensuring consistent cash flow with no landlord responsibilities. Rent increases of 5% every five years are built into the lease, providing built-in growth potential. The tenant, KBP Foods (FQSR, LLC), is a major KFC franchisee operating over 800 locations nationwide (representing approximately 20% of all US KFC locations), demonstrating financial strength and operational expertise. This specific location has a proven track record of strong sales, exhibiting a 7.65% rent-to-sales ratio. The property enjoys exceptional visibility on North Pike Street, a major thoroughfare with over 11,820 vehicles per day, and is strategically positioned near numerous national retailers and banks, ensuring high traffic and customer accessibility. Built in 2008 and renovated in 2017, this single-story building is the only quick-serve chicken restaurant in the immediate area. The lease commenced April 23, 2018, and expires April 30, 2038. The property generates a Net Operating Income (NOI) of $98,286, resulting in a 5.80% cap rate. The asking price is $1,695,000, translating to a price per square foot of $592.24. This is an ideal, management-free investment for a passive investor, featuring a recession-resistant tenant in a prime location. The tenant is responsible for all property taxes, insurance, and maintenance, eliminating landlord expenses and risk. There is no rent abatement provision in the lease.

Location Insight

City

Grafton

County

Taylor

State

West Virginia

Longitude

-80.0047

Latitude

39.347

CBSA code

17220

CBSA name

CLARKSBURG, WV MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments