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Views: 58 DOM: 36 Updated: 11.11.24 Posted: 10.16.24 Status: Active

Summary

Price $2,091,528
Built/Renov 2012
Tenant Burger King
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,530
Lease Start 02-15-2024
#Units 2
Price/SF $592.50
Expiration 12-31-2037
Tenant Type Fast Food/QSR
NOI $125,491
R. Term 13.1
Ownership Fee Simple
Rent/SF $35.55
Increases 0.0%/1/yrs
Pop 5Mi 30,649
Lot/AC 0.72
Options 4/5yrs
AHHI 5Mi $90,866

Lease Highlights

  • Burger King has 12 years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features annual gross sales percentage increases
  • Absolute NNN lease | Zero landlord responsibilities
  • Strong dual personal guarantees

Location Description

Burger King is strategically located at the signalized, hard corner intersection of 6th Ave SE and South Dakota Street, with access to a combined daily traffic count of 24,777 vehicles. The property is positioned in one of the area’s main commercial corridors, offering high visibility and accessibility. It is conveniently situated near key economic drivers, including Northern State University,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Burger King
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:2
  • 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, chicken sandwiches, breakfast sandwiches,...


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Listing Broker

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