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Views: 154 DOM: 289 Updated: 08.12.24 Posted: 03.07.24 Status: Contract

Summary

Price $1,300,000
Built/Renov 1986/2019
Tenant Burger King
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,172
Lease Start 02-16-1999
#Units 180
Price/SF $311.60
Expiration 07-08-2039
Tenant Type Fast Food/QSR
NOI $78,000
R. Term 14.6
Ownership Fee Simple
Rent/SF $18.70
Increases 0.0%/0/yrs
Pop 5Mi 14,614
Lot/AC 0.68
Options 2/5yrs
AHHI 5Mi $82,432

Lease Highlights

  • Burger King has been operating in this location since 1999
  • The tenant has 15+ years remaining on the current lease term with 2 (5-year) options to extend
  • Per the lease, the Tenant is to pay an 8.50% rent override on sales above $1,200,000
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Cave Enterprises, LLC (180 units backed)

Location Description

Burger King is strategically located at the signalized, hard corner intersection of Lincoln Street and Onieda Avenue, with access to a combined daily traffic count of 29,550 vehicles. The property is located within walking distance of Walmart Supercenter, Home Depot, Hobby Lobby, Kohl’s, ALDI, and more. Educational institutions in the vicinity include Rhinelander High School and James Williams...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Burger King
  • Guarantor:Franchisee
  • Company:Cave Enterprises, LLC
  • # Units:180
  • 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, in addition to chicken sandwiches, breakfast...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,700 11,632 14,529
2023 Total Population : 4,748 11,720 14,614
2023 Employed Civilian Pop : 2,353 5,632 7,072
2023 Total Businesses : 438 795 902
2023 Average Household Income : $ 73,042 $ 78,298 $ 82,432
2023 Total Consumer Spending : $ 145 M $ 369 M $ 487 M
2023 Median Age : 41 43 45
2023 Total Households : 2,260 5,330 6,676
2023 Pop Age 25+: Bachelor's Degree : 480 1,266 1,675
2023 Average Home Value : $ 175,129 $ 199,744 $ 220,823
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Lincoln St S Baird Ave 2018 13,000 0.02 mi
S Oneida Ave Barnes St 2018 12,700 0.08 mi
Courtney St Blackburn St 2018 8,600 0.11 mi
E Anderson St Conro St 2000 10,400 0.11 mi
S Oneida Ave Pleasant St 2009 1,600 0.14 mi
E Anderson St S Anderson St 2003 530 0.19 mi
S Baird Ave Elm Ct 2003 960 0.22 mi
Coolidge Ave Lincoln St 2009 2,200 0.23 mi
S Stevens St W King St 2015 5,400 0.25 mi
S Anderson St Brown St 2009 1,100 0.28 mi

Listing Broker

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