Burger King (GL)

5231 Old Hickory Boulevard, Hermitage, TN 37076

$1,575,000

Cap Rate 5.55%

Views: 13 DOM: 6 Updated: 09.12.24 Posted: 09.12.24 Status: Active

Summary

Price $1,575,000	Built/Renov 2009/2015	Tenant Burger King (GL)
Cap Rate 5.55%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,795	Lease Start 11-15-2010	#Units 19,384
Price/SF $563.51	Expiration 07-11-2025	Tenant Type Fast Food/QSR
NOI $87,480	R. Term 0.9	Ownership Ground Lease
Rent/SF $31.30	Increases 8.0%/1/yrs	Pop 5Mi 107,755
Lot/AC 1.11	Options 4/5yrs/8%	AHHI 5Mi $106,043

Lease Highlights

Burger King has been operating in this location since 2010
The tenant has less than 1 year remaining on the current ground lease term with 4 (5-year) options to extend
The lease features 8% rental escalations at the start of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Burger King is strategically located on Old Hickory Boulevard, with access to 48,208 vehicles passing by daily. The property enjoys excellent visibility and access, positioned between State Highway 24 (36,561 VPD) and I-40 (120,445 VPD). It is just south of Hermitage Marketplace - West Side, which is anchored by Lowe’s and includes tenants such as U.S. Bank, First Watch, Steam Boys, Dutch Bros...

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Key Features

Signalized intersection
In location for years
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Income tax free state
Absolute NNN
Corporate Guarantee
Credit rated company

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Links

Burger King Wikipedia Burger King Wikipedia Hermitage, Tennessee Zip Code 37076 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Corp T and Rated
Company:Restaurant Brands International, Inc.
# Units:19,384
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

Putnam Daily

Fisher James Capital

Contact

85 Listings
7318 Views
23 Sold

Vahe Nokhoudian

Fisher James Capital

Contact

22 Listings
1632 Views
4 Sold

Putnam Daily

Putnam Daily is the Managing Partner at Fisher James Capital and provides services to private and institutional capital clients on the disposition and acquisition of leased investment properties. Putnam has extensive experience representing developers, owners, and private capital clients on the sale of single and multi-tenant commercial properties nationwide; with a focus on newly constructed retail, industrial, and medical opportunities, he has completed nearly $8 billion in transactions total

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Vahe Nokhoudian

Fisher James Capital is based in San Francisco with partners in Silicon Valley and the East Bay. Specializing in leased investment brokerage, the partners represent private and institutional capital clients on the disposition and acquisition of single and multi-tenant commercial properties nationwide. This multi-market approach works to align capital into sound investments with a specific strategy positioning newly constructed properties to passive investors.

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