Burger King

333 Lincoln Street, Rhinelander, WI 54501

$1,300,000

Cap Rate 6.00%

Views: 39 DOM: 70 Updated: 05.05.24 Posted: 03.07.24 Status: Contract

Summary

Price $1,300,000	Built/Renov 1986/2019	Tenant Burger King
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,172	Lease Start 02-16-1999	#Units 180
Price/SF $311.60	Expiration 07-08-2039	Tenant Type Fast Food/QSR
NOI $78,000	R. Term 15.1	Ownership Fee Simple
Rent/SF $18.70	Increases 0.0%/0/yrs	Pop 5Mi 14,614
Lot/AC 0.68	Options 2/5yrs	AHHI 5Mi $82,432

Lease Highlights

Burger King has been operating in this location since 1999
The tenant has 15+ years remaining on the current lease term with 2 (5-year) options to extend
Per the lease, the Tenant is to pay an 8.50% rent override on sales above $1,200,000
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Cave Enterprises, LLC (180 units backed)

Location Description

Burger King is strategically located at the signalized, hard corner intersection of Lincoln Street and Onieda Avenue, with access to a combined daily traffic count of 29,550 vehicles. The property is located within walking distance of Walmart Supercenter, Home Depot, Hobby Lobby, Kohl’s, ALDI, and more. Educational institutions in the vicinity include Rhinelander High School and James Williams...

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Key Features

Signalized intersection
Hard corner intersection
In location for years
Dense retail corridor
Near major nationals
Strategically located
Freeway close
Long 15+ yr lease
Absolute NNN
100+ unit franchisee backed

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Links

Burger King Wikipedia Burger King Wikipedia Rhinelander, Wisconsin Zip Code 54501 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Franchisee
Company:Cave Enterprises, LLC
# Units:180
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 :	4,700	11,632	14,529
2023 Total Population :	4,748	11,720	14,614
2023 Employed Civilian Pop :	2,353	5,632	7,072
2023 Total Businesses :	438	795	902
2023 Average Household Income :	$ 73,042	$ 78,298	$ 82,432
2023 Total Consumer Spending :	$ 145 M	$ 369 M	$ 487 M
2023 Median Age :	41	43	45
2023 Total Households :	2,260	5,330	6,676
2023 Pop Age 25+: Bachelor's Degree :	480	1,266	1,675
2023 Average Home Value :	$ 175,129	$ 199,744	$ 220,823

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Lincoln St	S Baird Ave	2018	13,000	0.02 mi
S Oneida Ave	Barnes St	2018	12,700	0.08 mi
Courtney St	Blackburn St	2018	8,600	0.11 mi
E Anderson St	Conro St	2000	10,400	0.11 mi
S Oneida Ave	Pleasant St	2009	1,600	0.14 mi
E Anderson St	S Anderson St	2003	530	0.19 mi
S Baird Ave	Elm Ct	2003	960	0.22 mi
Coolidge Ave	Lincoln St	2009	2,200	0.23 mi
S Stevens St	W King St	2015	5,400	0.25 mi
S Anderson St	Brown St	2009	1,100	0.28 mi

Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

163 Listings
7117 Views
11 Sold

Aron Cline

Berkeley Capital Advisors

Contact

156 Listings
6769 Views
10 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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