Burger King

4123 Pearl Road, Cleveland, OH 44109

$1,050,000

Cap Rate 5.50%

$1,050,289

Cap Rate 5.50%

Views: 1039 DOM: 43 Updated: 03.11.24 Posted: 12.25.23 Status: Sold 02.07.24

Summary

Price $1,050,000 $1,050,289	Built/Renov 1987	Tenant Burger King
Cap Rate 5.50% 5.50%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,970	Lease Start 01-20-2022	#Units 65
Price/SF $264.48 $264.56	Expiration 01-31-2042	Tenant Type Fast Food/QSR
NOI $57,765	R. Term 16.9	Ownership Fee Simple
Rent/SF $14.55	Increases 10.0%/3/yrs	Pop 5Mi 326,713
Lot/AC 0.79	Options 4/5yrs/12.5%	AHHI 5Mi $49,833

Lease Highlights

Burger King has 18+ years remaining on the current lease term with 4 (5-year) options to extend
Lease features 10% rental increase in 2026 and 12.5% rental increase every 5 years thereafter including options
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Rackson Restaurants, LLC

Location Description

Burger King is strategically located on Pearl Road, with access to 18,000 vehicles passing by daily. This prime location is conveniently situated in a densely populated Cleveland neighborhood, directly adjoining the Cleveland Metroparks Zoo, which attracts over 1 million visitors annually, making it one of Northeast Ohio's most popular destinations. The property is also conveniently close to...

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Key Features

Near major nationals
Strategically located
Hospital close
Dense 200M+ pop 5 mi
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Traded and rated company
Personal guarantee
50+ unit franchisee backed

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Links

Burger King Wikipedia Burger King Wikipedia Cleveland, Ohio Zip Code 44109 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Franchisee
Company:Rackson Restaurants
# Units:65
Tenant S&P: BB
Moody’s: B1
Stock: NYSE: QSR

About Tenant

Burger King is an American-based multinational chain of hamburger fast food restaurants, and the second largest fast food hamburger chain in the world. The Burger King menu features their...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	21,130	125,953	320,982
2023 Total Population :	21,634	127,924	324,196
2023 Employed Civilian Pop :	9,756	61,652	155,114
2023 Total Businesses :	405	3,775	13,489
2023 Average Household Income :	$ 49,352	$ 65,219	$ 66,434
2023 Total Consumer Spending :	$ 411 M	$ 3210 M	$ 8545 M
2023 Median Age :	38	38	38
2023 Total Households :	9,437	56,049	146,568
2023 Pop Age 25+: Bachelor's Degree :	1,628	12,924	35,469
2023 Average Home Value :	$ 159,184	$ 171,366	$ 174,715

*ESRI data is presented for informational purposes only

Listing Broker

Deno Bistolarides

ENCORE Real Estate Investment Services

Contact

78 Listings
14403 Views
35 Sold

Brandon Hanna

ENCORE Real Estate Investment Services

Contact

38 Listings
8165 Views
10 Sold

Deno Bistolarides

Deno Bistolarides is a founding member and Managing Partner of Encore Real Estate Investment Services. Along with his partners Brandon Hanna and Ryan Vinco, Deno oversees a team of seasoned investment professionals that focus on advising clients in the acquisition and disposition of net leased and multi-tenant retail assets throughout the United States. In his career, which has spanned over a decade, Deno has advised private clients, developers, institutions and has completed over 400 transacti

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Brandon Hanna

Brandon Hanna is a founding member and Managing Partner of Encore Real Estate Investment Services. Alongside his partners Deno Bistolarides and Ryan Vinco, Brandon oversees a team of seasoned investment professionals that focus on advising clients in the acquisition and disposition of net leased and multi-tenant retail assets throughout the United States. Throughout his investment brokerage career, Brandon has broken price per square foot records and cap rate records in nearly every market whic

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