Burger King

6710 Denison Avenue, Cleveland, OH 44102

$1,350,000

Cap Rate 5.58%

Views: 81 DOM: 143 Updated: 04.26.24 Posted: 12.25.23 Status: Active

Summary

Price $1,350,000	Built/Renov 1972	Tenant Burger King
Cap Rate 5.58%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,358	Lease Start 01-20-2022	#Units 65
Price/SF $572.52	Expiration 01-31-2042	Tenant Type Fast Food/QSR
NOI $75,338	R. Term 17.8	Ownership Fee Simple
Rent/SF $31.95	Increases 10.0%/3/yrs	Pop 5Mi 330,642
Lot/AC 0.52	Options 4/5yrs/12.5%	AHHI 5Mi $53,520

Lease Highlights

Burger King has 18+ years remaining on the current lease term with 4 (5-year) options
Lease features 10% rental increase in 2026 and 12.5% rental increase every 5 years thereafter including options
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Rackson Restaurants, LLC

Location Description

Burger King is strategically located on Denison Avenue and West 67th Street, with a combined daily traffic count of 4,459 vehicles. This prime location is conveniently situated in a densely populated Cleveland neighborhood, offering excellent visibility and prominent signage. The site is conveniently located near Dave’s Mercado Supermarket, Arrow International World Headquarters and a large...

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Key Features

Signalized intersection
Hard corner intersection
Strategically located
Dense 200M+ pop 5 mi
Top 100 MSA
Long 15+ yr lease
Traded and rated company
Personal guarantee
50+ unit franchisee backed

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Links

Burger King Wikipedia Burger King Wikipedia Cleveland, Ohio Zip Code 44102 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Franchisee
Company:Rackson Restaurants
# Units:65
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 :	18,727	154,496	323,305
2023 Total Population :	19,204	156,546	327,201
2023 Employed Civilian Pop :	7,203	75,151	164,089
2023 Total Businesses :	354	4,194	12,551
2023 Average Household Income :	$ 47,178	$ 63,662	$ 70,333
2023 Total Consumer Spending :	$ 304 M	$ 4020 M	$ 9301 M
2023 Median Age :	31	37	38
2023 Total Households :	7,284	71,626	150,943
2023 Pop Age 25+: Bachelor's Degree :	930	16,323	42,328
2023 Average Home Value :	$ 135,086	$ 183,127	$ 191,845

*ESRI data is presented for informational purposes only

Listing Broker

Deno Bistolarides

ENCORE Real Estate Investment Services

Contact

65 Listings
2961 Views
24 Sold

Brandon Hanna

ENCORE Real Estate Investment Services

Contact

36 Listings
1838 Views
9 Sold

Deno Bistolarides

Deno Bistolarides is a founding member and Managing Partner of Encore Real Estate Investment Services. Along with his partners Brandon Hanna and Ryan Vinco, Deno oversees a team of seasoned investment professionals that focus on advising clients in the acquisition and disposition of net leased and multi-tenant retail assets throughout the United States. In his career, which has spanned over a decade, Deno has advised private clients, developers, institutions and has completed over 400 transacti

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Brandon Hanna

Brandon Hanna is a founding member and Managing Partner of Encore Real Estate Investment Services. Alongside his partners Deno Bistolarides and Ryan Vinco, Brandon oversees a team of seasoned investment professionals that focus on advising clients in the acquisition and disposition of net leased and multi-tenant retail assets throughout the United States. Throughout his investment brokerage career, Brandon has broken price per square foot records and cap rate records in nearly every market whic

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