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Views: 63 DOM: 65 Updated: 04.15.24 Posted: 03.12.24 Status: Active

Summary

Price $950,000
Built/Renov 1999
Tenant Burger King (Dark)
Cap Rate 11.37%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,312
Lease Start 08-06-1999
#Units 18,911
Price/SF $286.84
Expiration 11-30-2024
Tenant Type Fast Food/QSR
NOI $108,000
R. Term 0.6
Ownership Fee Simple
Rent/SF $32.61
Increases 0.0%/0/yrs
Pop 5Mi 261,931
Lot/AC 0.78
Options 0/0yrs
AHHI 5Mi $72,004

Lease Highlights

  • Burger King (Dark) has 7+ months remaining on the current lease term
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Burger King is strategically located at the signalized, hard corner intersection of N Illinois Street and 38th Street, with access to a combined daily traffic count of 45,636 vehicles. The property is located in a dense retail corridor, including McDonald’s, Family Dollar, Subway, Tide Cleaners, Dollar General, BP Gas Station, and more. The property is situated just over 4 miles away from...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Burger King
  • Guarantor:Corp T and Rated
  • Company:Restaurant Brands International, Inc.
  • # Units:18,911
  • Tenant S&P: BB
  • Stock: NYSE: QSR

About Tenant

Burger King is the second-largest fast-food hamburger chain in the world. Their menu features their signature Whopper and Whopper Jr. hamburgers, in addition to chicken sandwiches, breakfast...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 15,816 96,157 277,692
2023 Total Population : 15,716 94,726 273,953
2023 Employed Civilian Pop : 8,387 49,807 140,567
2023 Total Businesses : 438 3,512 11,707
2023 Average Household Income : $ 89,307 $ 95,348 $ 88,007
2023 Total Consumer Spending : $ 546 M $ 3431 M $ 9035 M
2023 Median Age : 38 36 36
2023 Total Households : 6,966 41,114 117,276
2023 Pop Age 25+: Bachelor's Degree : 2,735 17,734 44,922
2023 Average Home Value : $ 316,619 $ 300,079 $ 254,695
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W 38th St N Kenwood Ave 2015 37,657 0.10 mi
W 38th St Salem St 2015 37,657 0.12 mi
North Meridian Street 2019 14,891 0.14 mi
North Meridian Street W 38th St 2021 13,991 0.14 mi
N Illinois St W 39th St 2009 9,695 0.23 mi
Boulevard Pl W 38th St 2014 3,225 0.24 mi
West 38th Street W 38th St 2021 5,424 0.25 mi
Boulevard Place Harvard Pl 2021 5,424 0.28 mi
E 38th St N Delaware St 2013 28,096 0.31 mi
Boulevard Pl W 40th St 2017 3,336 0.35 mi

Listing Broker

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