Burger King

1315 South 300 West, Salt Lake City, UT 84115

$2,880,000

Cap Rate 5.00%

Views: 50 DOM: 51 Updated: 10.08.24 Posted: 08.13.24 Status: Sold 10.03.24

Summary

Price $2,880,000	Built/Renov 2014	Tenant Burger King
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,042	Lease Start 11-01-2020	#Units 54
Price/SF $712.52	Expiration 11-16-2034	Tenant Type Fast Food/QSR
NOI $144,000	R. Term 9.11	Ownership Fee Simple
Rent/SF $35.63	Increases 10.0%/5/yrs	Pop 5Mi 317,200
Lot/AC 0.65	Options 4/5yrs/10%	AHHI 5Mi $84,679

Lease Highlights

Burger King has 10+ years remaining on the current lease term with 4 (%-year) options to extend
The lease features 10% rental increases throughout the initial term and option period
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by HB Boys, L.C. (54 units backed)

Location Description

Burger King is strategically located at the signalized, hard-corner intersection of S 300 West and W 13th Street, with access to a combined daily traffic count of 32,539 vehicles. The property offers easy access to I-15, which sees 316,554 VPD, and is surrounded by well-known national tenants such as Lowe's Home Improvement, Walmart Supercenter, Mister Car Wash, Dollar Tree, Wendy's, and more....

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Absolute NNN
Long 10+ yr lease
50+ unit franchisee backed

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Links

Burger King Wikipedia Burger King Wikipedia Salt Lake City, Utah Zip Code 84115 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Franchisee
Company:HB Boys, L.C.
# Units:54
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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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	15,777	162,878	342,212
2024 Total Population :	13,990	150,603	327,686
2024 Employed Civilian Pop :	8,336	95,981	196,027
2024 Total Businesses :	1,170	9,691	16,630
2024 Average Household Income :	$ 89,383	$ 104,483	$ 111,782
2024 Total Consumer Spending :	$ 517 M	$ 6489 M	$ 13500 M
2024 Median Age :	33	33	33
2024 Total Households :	6,517	70,566	137,335
2024 Pop Age 25+: Bachelor's Degree :	2,606	31,126	60,361
2024 Average Home Value :	$ 535,355	$ 595,038	$ 609,615

*ESRI data is presented for informational purposes only

Listing Broker

Maxwell Watson

Sands Investment Group

Contact

8 Listings
697 Views
1 Sold

Matt Montagne

Sands Investment Group

Contact

8 Listings
757 Views
1 Sold

Maxwell Watson

Sands Investment Group is a commercial real estate brokerage firm that specializes in the buying and selling of investment properties for private investors and institutions across the United States. Since its founding in 2010, SIG has closed over 4,100 plus transactions worth more than $8 Billion in 48 states. Advisors with the company currently have over $1.4 billion in active inventory. As a leader in the industry, SIG was first to offer true sub-product type specialization. The firm’s experi

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Matt Montagne

I currently work at SANDS Investment Group as a Net Lease Advisor in Commercial Real Estate with more than 4 years specializing in sale leasebacks, convenience stores, gas stations, car washes, automotive shops, and QSR's. Please message me if you are interested in selling or buying commercial real estate, or know of anyone who needs assistance.

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Tyler Ellinger

Sands Investment Group

Contact

9 Listings
826 Views
1 Sold

Tyler Ellinger

I am a net lease advisor at Sands Investment Group, where I specialize in single tenant net leased properties, and travel center business and real estate transaction, c-store business and real estate transactions, and car wash properties. I have over 11 years of experience in the commercial real estate industry, and I am a former certified public accountant with a master's degree in business administration. My mission is to provide my clients with the best service, market knowledge, and fina

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