4790 Dixie Hwy Waterford, MI 48329-3525

Property Details for 4790 Dixie Hwy

Year built

2002

Lot size

0.72 lot acres

Property size

3,434 SF

Zone code

BI

Property type

Drive through restaurants

APN

W -13-10-126-001

APU

W1310126001

Description

This exceptional investment opportunity presents a fee-simple, single-tenant KFC property located at 4790 Dixie Hwy, Waterford Township, MI 48329. The 3,125 square foot building, constructed in 1979 and substantially renovated in 2016, sits on a 1-story structure and boasts a 100% occupancy rate. Leased to KBP Foods, the second largest KFC franchisee in the nation with over 840 locations, this property offers a strong, stable income stream. The current absolute triple-net (NNN) lease, with zero landlord responsibilities, has approximately 9.2 years remaining, followed by four 5-year options to renew. Rent increases are fixed at 8% every five years, ensuring consistent growth in your return. The property generates a NOI of $91,329, resulting in a 6.00% cap rate and a price per square foot of $488. The asking price is $1,525,000. This investment is further strengthened by the property's location within a thriving demographic area, featuring over 6,500 people within a 1-mile radius and an average household income exceeding $104,000. The lease commenced on January 16, 2014, and is set to expire on January 31, 2034. This is a rare opportunity to acquire a well-established, high-performing KFC property with significant long-term potential.