loader
Join Free
Views: 62 DOM: 34 Updated: 08.14.24 Posted: 08.13.24 Status: Active 08.13.24

Summary

Price $2,219,047
Built/Renov 2021
Tenant Burger King
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,184
Lease Start 01-27-2024
#Units 1,000
Price/SF $696.94
Expiration 01-27-2044
Tenant Type Fast Food/QSR
NOI $116,500
R. Term 19.4
Ownership Fee Simple
Rent/SF $36.59
Increases 2.0%/1/yrs
Pop 5Mi 114,820
Lot/AC 1.06
Options 4/5yrs/2%
AHHI 5Mi $110,603

Lease Highlights

  • Burger King recently executed a brand-new 20-year lease extension with 4 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Carrols Corporation (1000 units backed)

Location Description

Burger King is strategically located on Ohio Pike, with access to 29,827 vehicles passing by daily. The property is surrounded by well-known national tenants, including The Home Depot, Target, Harbor Freight Tools, Toyota, Lowe’s, Honda, and more. Additionally, it is conveniently situated just off of I-275 Exit ramp 65, with 74,000 VPD. Moreover, it is located down the street from Cherry Grove...

...

Maps

  • 1 Mile
  • 3 Miles
  • 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, chicken sandwiches, breakfast sandwiches,...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity