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Views: 23 Updated: 08.28.24 Posted: 08.27.24 Status: Inactive 09.16.24

Summary

Price $1,773,000
Built/Renov 1981
Tenant Burger King
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,586
Lease Start 01-01-2011
#Units 49
Price/SF $494.42
Expiration 12-31-2030
Tenant Type Fast Food/QSR
NOI $97,494
R. Term 6.3
Ownership Fee Simple
Rent/SF $27.19
Increases 1.8%/1/yrs
Pop 5Mi 41,264
Lot/AC 1.39
Options 3/5yrs/1.75%
AHHI 5Mi $77,755

Lease Highlights

  • Burger King has been operating in this location since 2011
  • The tenant has 6+ years remaining on the current lease term with 3 (5-year) and 1 (4 year) options to extend
  • The lease features 1.75% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Switchgrass Management (49 units backed)

Location Description

Burger King is strategically located on Adams Road, a major north/south artery with access to 22,800 vehicles passing by daily. It is the only Burger King in the county, situated in a bustling retail corridor with well-known national tenants including Walmart Supercenter, Lowe’s, Hobby Lobby, Ross, TJ Maxx, and more. Additionally, it is just 1 mile from the award-winning Jane Phillips Medical...

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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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