Burger King

2650 South 9th Street, Salina, KS 67401

$2,005,000

Cap Rate 6.50%

Views: 166 DOM: 149 Updated: 10.24.24 Posted: 07.25.24 Status: Active

Summary

Price $2,005,000	Built/Renov 1997/2017	Tenant Burger King
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,212	Lease Start 08-17-2016	#Units 16
Price/SF $476.02	Expiration 06-30-2036	Tenant Type Fast Food/QSR
NOI $130,236	R. Term 11.6	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

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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 increases 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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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	7,263	32,062	46,264
2024 Total Population :	7,425	32,648	47,023
2024 Employed Civilian Pop :	4,232	17,646	24,632
2024 Total Businesses :	306	1,098	2,165
2024 Average Household Income :	$ 89,361	$ 79,255	$ 77,483
2024 Total Consumer Spending :	$ 230 M	$ 932 M	$ 1331 M
2024 Median Age :	36	38	39
2024 Total Households :	2,939	13,342	19,463
2024 Pop Age 25+: Bachelor's Degree :	942	3,981	5,865
2024 Average Home Value :	$ 229,478	$ 192,570	$ 199,278

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Belmont Boulevard	Kensington Rd	2021	4,477	0.17 mi
	W Key Ave	2021	15,610	0.24 mi
	W Key Ave	2021	15,610	0.24 mi
	E Neal Ave	2021	902	0.26 mi
	E Neal Ave	2021	902	0.26 mi
	Sullivan Dr	2021	15,610	0.28 mi
	Sullivan Dr	2021	15,610	0.28 mi
	9th St	2021	15,610	0.29 mi
	9th St	2021	15,610	0.29 mi
South 9th Street	S 9th St	2021	15,610	0.31 mi

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