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Views: 63 DOM: 66 Updated: 11.21.24 Posted: 10.16.24 Status: Active

Summary

Price $2,400,000
Built/Renov 2017
Tenant Burger King
Cap Rate 5.53%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,829
Lease Start 08-01-2018
#Units 179
Price/SF $1,312.19
Expiration 11-30-2036
Tenant Type Fast Food/QSR
NOI $132,690
R. Term 11.11
Ownership Fee Simple
Rent/SF $72.55
Increases 1.0%/1/yrs
Pop 5Mi 1,033,239
Lot/AC 1.24
Options 4/5yrs/1%
AHHI 5Mi $102,324

Lease Highlights

  • The tenant has 12 years of firm term remaining with 4 (5-year) options to extend
  • The lease features 1% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • The lease is signed by an experienced franchisee

Location Description

Burger King is strategically located on S. Howell Avenue/State Highway 38, with access to 27,300 vehicles passing by daily. The property is just a quick 20-minute drive into Downtown Milwaukee via Interstate 41, which sees 171,000 VPD, making it a centralized location. It is ideally situated within a dense retail trade area and serves as an outparcel to Woodman’s Food Market and Meijer....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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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Listing Broker

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