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DOM: 204 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 11.7
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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  • 1 Mile
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  • 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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Kyle Fant

SRS National Net Lease Group

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  • 97 Listings
  • 19157 Views
  • 44 Sold
Britt Raymond

SRS National Net Lease Group

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  • 107 Listings
  • 20167 Views
  • 52 Sold

Kyle joined SRS in 2017 along with his partner Britt Raymond to spearhead the New York City office for the National Net Lease Group and accelerate growth across the east coast. Kyle has over eight years of experience in investment sales of net lease retail, medical, and industrial properties across the country. Kyle spent the first three years of his career in Marcus & Millichap’s flagship Manhattan office where he was able to work and learn from some of the firm’s top transactional brokera

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Britt Raymond is a Managing Director and Market Leader of New York Capital Market. Britt spearheads efforts to grow SRS’s presence across the northeast. She also advises owners of net lease assets and anchored shopping centers nationwide to buy, acquire, or finance. She also provides 1031 Tax Deferred Exchange advisory. She has closed over $2.75 billion in commercial real estate transactions in her career. Britt Raymond joined SRS in 2017 with eight years of commercial real estate experience. S

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