1116 Parade St, Erie, PA 16503

2,748 SF | Retail Building | Erie, PA 16503 | $1,280,150 ($466/SF) | 6% Cap Rate

Asking Price $1,280,150

Property Type
Retail, Restaurant
Square Feet
2,748 SF
Price / Square Foot
$466

Listing Contacts

  • Property Info

Property Overview

NNN Pro is pleased to present the exclusive listing for a KFC located at 1116
Parade Street, Erie, PA 16503. The site consists of roughly 2,748 rentable
square feet of building space on an estimated 0.74-acre parcel of land. This
KFC is subject to a 20-year Triple Net (NNN) lease, which commenced
3/31/2019. The current annual rent is $76,809 and has scheduled increases
of 1.25% Annually Starting in Year 11.

Property Details

Class
B
Year Built
1986
Stories
1
Lot Size (sq. ft)
32,234 SF

Highlights

  • Long Term Lease | Brand-New 20-Year Triple Net (NNN) Lease
  • Strong Inflation Hedge | 1.25% Annual Increases Starting in Year 11
  • Strong Guarantee | 68-Unit Franchisee Guarantee from Morgan Foods, Inc.

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