Burger King

2650 South 9th Street, Salina, KS 67401

$2,118,000

Cap Rate 6.15%

Views: 80 DOM: 45 Updated: 07.25.24 Posted: 07.25.24 Status: Active

Summary

Price $2,118,000	Built/Renov 1997/2017	Tenant Burger King
Cap Rate 6.15%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,212	Lease Start 08-17-2016	#Units 16
Price/SF $502.85	Expiration 06-30-2036	Tenant Type Fast Food/QSR
NOI $130,236	R. Term 11.9	Ownership Fee Simple
Rent/SF $30.92	Increases 7.5%/5/yrs	Pop 5Mi 47,284
Lot/AC 0.68	Options 4/5yrs/7.5%	AHHI 5Mi $68,888

Klinton Lewis

Embree

Contact

Lease Highlights

Burger King has 11+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 7.5% annual rental escalations throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by Kansas King Inc. (16 units backed)

Location Description

Burger King is strategically located at the signalized, hard corner intersection of S 9th Street and Belmont Boulevard, with access to a combined daily traffic count of 19,535 vehicles. The property is within proximity to Salina Regional Airport, Central Mall, a designated regional trade center with the third highest retail trade pull factor for all Kansas counties, and Kansas State University...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Strategically located
Strong tenant synergy
Highway close
Absolute NNN
Long 10+ yr lease
Personal guarantee

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Links

Burger King Wikipedia Burger King Wikipedia Salina, Kansas Zip Code 67401 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Franchisee
Company:Kansas King Inc.
# Units:16
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, chicken sandwiches, breakfast sandwiches,...

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