Burger King

1829 Old Spanish Trail, Slidell, LA 70458

$1,800,000

Cap Rate 5.83%

Views: 214 DOM: 221 Updated: 11.25.24 Posted: 05.14.24 Status: Active

Summary

Price $1,800,000	Built/Renov 2024	Tenant Burger King
Cap Rate 5.83%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,765	Lease Start 12-01-2024	#Units 190
Price/SF $650.99	Expiration 11-30-2044	Tenant Type Fast Food/QSR
NOI $105,000	R. Term 19.11	Ownership Fee Simple
Rent/SF $37.97	Increases 8.0%/5/yrs	Pop 5Mi 79,901
Lot/AC 0.78	Options 4/5yrs/8%	AHHI 5Mi $89,692

Lease Highlights

Brand new 2024 construction
Brand new 20-year sale-leaseback with 4 (5-year) options to extend
The lease features 8% rental increases every 5 years throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by GPS Hospitality Partners (190-unit operator)

Location Description

Burger King is strategically located on Old Spanish Trail, with access to 18,200 vehicles passing by daily. The property is conveniently situated directly off Interstate 10, which sees 84,300 VPD, offering direct on/off ramp access. The immediate trade area is supported by well-known national tenants, including Circle K, ServePro, Super 8, Shell, Wendy’s, and more. The 5-mile trade area is...

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Key Features

New construction
Dense retail corridor
Near major nationals
Freeway close
Top 100 MSA
Affluent suburb location
Brand new lease
Long 20+ yr lease
Absolute NNN
100+ unit franchisee backed

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Links

Burger King Wikipedia Burger King Wikipedia Slidell, Louisiana Zip Code 70458 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Franchisee
Company:GPS Hospitality Partners
# Units:190
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
2029 Total Population :	6,745	42,945	85,085
2024 Total Population :	6,367	41,290	81,798
2024 Employed Civilian Pop :	2,723	17,960	37,334
2024 Total Businesses :	330	2,536	3,881
2024 Average Household Income :	$ 69,697	$ 88,639	$ 92,995
2024 Total Consumer Spending :	$ 174 M	$ 1274 M	$ 2629 M
2024 Median Age :	38	40	41
2024 Total Households :	2,815	16,347	32,216
2024 Pop Age 25+: Bachelor's Degree :	663	5,259	10,883
2024 Average Home Value :	$ 202,204	$ 259,792	$ 282,709

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Old Spanish Trl	2022	1,462	0.10 mi
	Bosworth St	2022	3,112	0.16 mi
	Albert St	2022	5,299	0.31 mi
I-0010	Shortcut Hwy	2020	8,876	0.33 mi
Old Spanish Trail	Old Spanish Trl	2022	4,206	0.40 mi
Caruso Blvd	Old Spanish Trl	2018	10,564	0.41 mi
LA 433	Faith Dr	2021	18,249	0.45 mi
	Annie St	2022	81	0.46 mi
	Picadilly Cir	2022	84,269	0.58 mi
North Columbia Street	E Gibson St	2018	3,735	0.62 mi

Listing Broker

Michael Berk

SRS National Net Lease Group

Contact

31 Listings
4615 Views
9 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
30159 Views
93 Sold

Michael Berk

Michael Berk joined SRS Real Estate Partners in 2019 as senior associate in our Atlanta office as a part of the Capital Markets team. Prior to SRS, Michael worked with Calkain, where he assisted in the disposition and acquisition of net lease assets, along with structuring sale-leasebacks for QSR operators. Prior to that, he worked in the corporate marketing department at Talladega Superspeedway where he sold large-scale marketing platforms along with venue entertainment packages. Michael is

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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