1116 Parade St Erie, PA 16503

This exceptional investment opportunity presents a 2,748 square foot KFC restaurant located at 1116 Parade St, Erie, PA 16503. The property sits on a 0.74-acre lot and is subject to a 20-year triple-net (NNN) lease, commencing March 31, 2019, and expiring March 31, 2039, leaving 14.4 years remaining. The current annual net operating income (NOI) is $76,809, representing a 6.00% capitalization rate on the $1,280,150 asking price, or $465.85 per square foot. Built in 1986, this single-tenant property boasts 100% occupancy and benefits from a strong franchisee guarantee from Morgan Foods, Inc., a 68-unit franchisee. The lease includes annual rent increases of 1.25% starting in year 11, providing a hedge against inflation. This is a compelling investment opportunity offering long-term stability and strong returns in a prime Erie, Pennsylvania location. The property's strong tenant, long lease term, and built-in rent escalations make this an attractive addition to any portfolio. This is a rare chance to acquire a well-established, high-performing KFC location with significant upside potential. The property is offered at $1,280,150.