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Views: 77 DOM: 226 Updated: 05.08.24 Posted: 10.04.23 Status: Active

Summary

Price $4,800,000
Built/Renov 2023
Tenant Burger King (GL)
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,278
Lease Start 03-01-2022
#Units 20
Price/SF $1,464.31
Expiration 02-29-2052
Tenant Type Fast Food/QSR
NOI $264,155
R. Term 27.9
Ownership Ground Lease
Rent/SF $80.58
Increases 2.7%/5/yrs
Pop 5Mi 51,456
Lot/AC 1.45
Options 2/5yrs
AHHI 5Mi $99,830

Lease Highlights

  • Brand-new 2023 construction
  • Burger King has over 28 years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features 2.65% rental increase at year 6 and FMV at the start of each option
  • Absolute NNN ground lease | Zero landlord responsibilities
  • Lease guaranteed by Giangrande Corporation

Location Description

This newly constructed 3,278 square foot Burger King is strategically located at the signalized, hard corner intersection of Harrisburg Pike and Route 11 seeing 21,984 vehicles per day. The property is less than 1 mile from on/off ramps to both I-81 (65,388 VPD) and I-76/Pennsylvania Turnpike (23,328 VPD), providing easy access for customers traveling throughout the region in all directions....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Burger King is an American-based multinational chain of hamburger fast food restaurants, and the second largest fast food hamburger chain in the world. The Burger King menu features their...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 453 18,732 52,417
2023 Total Population : 454 18,482 51,195
2023 Employed Civilian Pop : 189 9,089 26,714
2023 Total Businesses : 87 684 1,799
2023 Average Household Income : $ 86,270 $ 99,092 $ 99,675
2023 Total Consumer Spending : $ 12 M $ 622 M $ 1775 M
2023 Median Age : 50 44 42
2023 Total Households : 170 7,319 20,671
2023 Pop Age 25+: Bachelor's Degree : 69 2,869 8,125
2023 Average Home Value : $ 354,365 $ 285,715 $ 299,052
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Harrisburg Pike S Middlesex Rd 2021 29,454 0.02 mi
Harrisburg Pike N Letort Dr 2019 12,370 0.02 mi
Harrisburg Pike N Letort Dr 2019 9,618 0.04 mi
North Middlesex Road Mill Rd 2021 3,734 0.19 mi
N Middlesex Rd Clemson Dr 2019 5,404 0.24 mi
Harrisburg Pike Pilot Dr 2017 21,984 0.25 mi
S Middlesex Rd I- 81 2017 3,310 0.40 mi
I- 81 S Middlesex Rd 2017 65,388 0.45 mi
Harrisburg Pike I- 76 2019 6,279 0.48 mi
Harrisburg Pike 2021 4,604 0.53 mi

Listing Broker

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