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DOM: 358 Updated: 10.02.24 Posted: 05.09.24 Status: Active

Summary

Price $1,789,000
Built/Renov 1979/2013
Tenant Burger King
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,442
Lease Start 10-30-2018
#Units 35
Price/SF $519.76
Expiration 10-31-2038
Tenant Type Fast Food/QSR
NOI $107,340
R. Term 13.6
Ownership Fee Simple
Rent/SF $31.19
Increases 10.0%/4/yrs
Pop 5Mi 10,779
Lot/AC 0.91
Options 0/0yrs
AHHI 5Mi $59,975

Lease Highlights

  • Burger King has 14+ years remaining on the current lease term with no options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Tenant will receive a 30-day rent abatement for remodeling the site in 2026 or later | Speak with Agent for details
  • Lease guaranteed by Bulldog Restaurants LLC | Subsidiary of Starboard Group

Location Description

Burger King is strategically located on North Main Street, within walking distance of Tuskegee University, which enrolls 2,570 students. The property is surrounded by well-known national tenants, including Piggly Wiggly, McDonald's, Dollar General, Advance Auto Parts, and more. Additionally, within 3 miles of the site are Tuskegee Institute Middle School, Booker T. Washington High School, and...

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Maps

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  • 5 Miles

Tenant

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
2029 Total Population : 4,038 8,484 9,901
2024 Total Population : 4,219 9,002 10,499
2024 Employed Civilian Pop : 1,516 3,635 4,252
2024 Total Businesses : 242 347 380
2024 Average Household Income : $ 55,802 $ 59,720 $ 60,121
2024 Total Consumer Spending : $ 55 M $ 185 M $ 225 M
2024 Median Age : 24 30 32
2024 Total Households : 1,104 3,433 4,138
2024 Pop Age 25+: Bachelor's Degree : 197 789 892
2024 Average Home Value : $ 132,135 $ 158,737 $ 168,138
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Main Street W Spring St 2021 5,456 0.09 mi
West Spring Street N Main St 2014 830 0.12 mi
East Spring Street E Lee St 2021 622 0.18 mi
Eastside Street E Northside St 2021 2,303 0.28 mi
Wright Street LnSt 2021 6,271 0.29 mi
North Main Street W Northside St 2021 1,305 0.29 mi
West Montgomery Road Gaillard Dr 2018 8,373 0.30 mi
Railroad Avenue E Spring St 2021 739 0.34 mi
East Martin Luther King Highway N Lake St 2020 7,875 0.52 mi
East Martin Luther King Highway Norris St 2021 7,875 0.52 mi

Listing Broker

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Gary Chou

Berkeley Capital Advisors

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  • 34 Listings
  • 10065 Views
  • 9 Sold
Aron Cline

Berkeley Capital Advisors

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  • 177 Listings
  • 48051 Views
  • 59 Sold

With nearly a decade of experience in commercial real estate sales, Gary Chou leads Berkeley Capital Advisors’ West Coast office with a focus on Single Tenant Net Lease, Net Lease Portfolios, and Corporate Sale Leasebacks. Having brokered over 1,300 transactions totaling $3.5 billion, he and his team are highly regarded as one of the most active brokerage teams in the country and serve some of the world’s largest corporate companies, public and private REITs, private equity funds, developers, f

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Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Berkeley Capital Advisors

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  • 187 Listings
  • 50079 Views
  • 61 Sold

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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