Burger King

4666 Sonoma Ranch Blvd, Las Cruces, NM 88011

$2,900,000

Cap Rate 5.84%

Views: 55 DOM: 169 Updated: 05.05.24 Posted: 11.30.23 Status: Active

Summary

Price $2,900,000	Built/Renov 2017	Tenant Burger King
Cap Rate 5.84%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,868	Lease Start 12-02-2017	#Units 50
Price/SF $1,011.16	Expiration 01-26-2038	Tenant Type Fast Food/QSR
NOI $169,400	R. Term 13.8	Ownership Fee Simple
Rent/SF $59.07	Increases 10.0%/5/yrs	Pop 5Mi 94,808
Lot/AC 0.93	Options 4/5yrs/10%	AHHI 5Mi $72,493

Lease Highlights

Burger King has 14+ years remaining on the current lease term with 4 (5-year) options to extend
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Legacy Burgers, LLC (50 units)

Location Description

Burger King is strategically located at the hard corner intersection of Sonoma Ranch Blvd and Bataan Memorial E, with excellent visibility and access to 8,900 vehicles passing by daily. The property has a prime location, positioned just one block away from US Highway 70 on-ramp and off-ramp (57,400 VPD). Furthermore, the site is situated between Highland Elementary School and Sonoma Elementary...

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Key Features

Hard corner intersection
Near major nationals
Strategically located
Highway close
Top 100 MSA
Absolute NNN
Long 10+ yr lease
Traded and rated company
Personal guarantee
50+ unit franchisee backed

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Links

Burger King Wikipedia Burger King Wikipedia Las Cruces, New Mexico Zip Code 88011 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Franchisee
Company:Legacy Burgers, LLC
# Units:50
Tenant S&P: BB
Moody’s: B1
Stock: NYSE: QSR

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 :	7,122	46,149	98,603
2023 Total Population :	6,954	44,478	96,471
2023 Employed Civilian Pop :	3,221	19,918	40,976
2023 Total Businesses :	72	442	2,245
2023 Average Household Income :	$ 102,769	$ 97,502	$ 78,727
2023 Total Consumer Spending :	$ 243 M	$ 1468 M	$ 2660 M
2023 Median Age :	37	37	37
2023 Total Households :	2,749	17,403	38,778
2023 Pop Age 25+: Bachelor's Degree :	1,594	7,759	13,790
2023 Average Home Value :	$ 268,969	$ 252,955	$ 233,273

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
FL-1207-P	Buena Vista Dr	2021	11,740	0.04 mi
Bataan Memorial Highway	la Bajada Dr	2022	46,597	0.12 mi
US 70	N Main St	2021	46,181	0.12 mi
	Tayvis Rd	2022	20,095	0.16 mi
FL-5598-P	Ross St	2021	9,500	0.17 mi
Sonoma Ranch Boulevard	Garnet St	2022	9,605	0.17 mi
	Tayvis Rd	2022	20,095	0.17 mi
Sonoma Ranch Blvd	Ross St	2003	3,032	0.17 mi
	Emerald St	2022	20,095	0.26 mi
	Garnet St	2022	9,956	0.30 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

156 Listings
6760 Views
10 Sold

Calvin Short

Berkeley Capital Advisors

Contact

163 Listings
7108 Views
11 Sold

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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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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