Burger King

500 Regional Park Road, Lebanon, VA 24266

$1,565,000

Cap Rate 5.75%

Views: 106 Updated: 12.04.23 Posted: 10.27.23 Status: Inactive

Summary

Price $1,565,000	Built/Renov 2000/2019	Tenant Burger King
Cap Rate 5.75%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,878	Lease Start 04-01-2024	#Units 1
Price/SF $403.56	Expiration 03-31-2044	Tenant Type Fast Food/QSR
NOI $90,000	R. Term 19.3	Ownership Fee Simple
Rent/SF $23.21	Increases 8.0%/5/yrs	Pop 5Mi 7,123
Lot/AC 1.17	Options 4/5yrs/8%	AHHI 5Mi $72,375

Lease Highlights

Long-term operating history | Tenant has been at this location for over 22 years
Burger King to sign a new 20-year lease with 4 (5-year) options to extend upon close of escrow
The lease features 8% rental increases every 5 years throughout the initial term and options
Absolute NNN | Zero landlord responsibilities
Increases year-over-year sales | Speak with Agent for details
Seasoned operator | Tenant has been a Burger King franchisee for 35+ years

Location Description

Burger King is positioned on Regional Park Road, which has a daily traffic count of 10,700 vehicles. The property boasts exceptional accessibility and visibility from US Hwy 19 Bypass, where the daily traffic count reaches 21,000 vehicles. It is conveniently located across the highway from a Food City, which is part of a shopping center anchored by a Walmart Supercenter. Additionally, the...

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Key Features

Recent renovation
In location for years
Near major nationals
Strategically located
Highway location
Long 20+ yr lease
Strong sales history
Absolute NNN
Traded and rated company
Personal guarantee

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Links

Burger King Wikipedia Burger King Wikipedia Lebanon, Virginia Zip Code 24266 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Franchisee
Company:Franchisee
# Units:1
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 :	1,172	4,881	6,797
2023 Total Population :	1,175	4,981	6,976
2023 Employed Civilian Pop :	616	2,388	3,203
2023 Total Businesses :	118	311	341
2023 Average Household Income :	$ 71,827	$ 73,353	$ 73,633
2023 Total Consumer Spending :	$ 35 M	$ 139 M	$ 194 M
2023 Median Age :	45	45	45
2023 Total Households :	561	2,154	3,000
2023 Pop Age 25+: Bachelor's Degree :	69	433	643
2023 Average Home Value :	$ 207,985	$ 190,778	$ 182,618

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Pittston Rd	2018	11,000	0.20 mi
US Hwy 19 Byp	Pittston Rd	2016	9,900	0.20 mi
East Main Street	Hurt St	2021	7,600	0.37 mi
Main St	Ford Ave	2016	8,300	0.39 mi
Pittston Road	Overlook Dr	2020	16,000	0.41 mi
Pittston Rd	Overlook Dr	2016	9,600	0.42 mi
Main St	Pittston Rd	2016	8,300	0.45 mi
Pittston Rd	Co Rd 654	2016	1,500	0.46 mi
Pittston Road	Pittston Rd	2020	1,400	0.52 mi
East Main Street	Ridge Dr	2020	4,700	0.66 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
30339 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
31486 Views
23 Sold

Aron Cline

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

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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