Burger King (GL)

49 Sparta Avenue, Sparta, NJ 07871

$2,085,400

Cap Rate 6.00%

Views: 210 DOM: 155 Updated: 08.30.24 Posted: 06.19.24 Status: Active

Summary

Price $2,085,400	Built/Renov 1977/2009	Tenant Burger King (GL)
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,046	Lease Start 10-01-2009	#Units 5
Price/SF $684.64	Expiration 05-31-2033	Tenant Type Fast Food/QSR
NOI $125,126	R. Term 8.6	Ownership Ground Lease
Rent/SF $41.08	Increases 12.0%/5/yrs	Pop 5Mi 33,539
Lot/AC 1.02	Options 4/5yrs/12%	AHHI 5Mi $176,324

Karly Iacono

CBRE

Contact

Lease Highlights

Burger King has 8+ years remaining on the current ground lease term with 4 (5-year) options to extend
The lease features 12% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
JFM Sparta Properties, LLC (5 units backed)

Location Description

Burger King is strategically located on Sparta Avenue, with access to 13,000 vehicles passing by daily. The property is further enhanced by limited competition, as it is the only fast-food restaurant in Sparta with a drive-thru. Additionally, the immediate area is surrounded by well-known national tenants including Chase, Wells Fargo, Job Lot, Subway, 7-Eleven, and more. The 5-mile trade area...

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Key Features

Build to suit
In location for years
Dense retail corridor
Near major nationals
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long operation history
Absolute NNN
Limited competition
Personal guarantee

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Links

Burger King Wikipedia Burger King Wikipedia Sparta, New Jersey Zip Code 07871 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Franchisee
Company:JFM Sparta Properties, LLC
# Units:5
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, in addition to chicken sandwiches, breakfast...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	2,982	17,735	34,072
2024 Total Population :	2,989	17,813	34,256
2024 Employed Civilian Pop :	1,530	9,314	17,962
2024 Total Businesses :	399	855	1,361
2024 Average Household Income :	$ 146,247	$ 198,923	$ 185,578
2024 Total Consumer Spending :	$ 168 M	$ 1115 M	$ 2004 M
2024 Median Age :	49	44	45
2024 Total Households :	1,353	6,638	12,725
2024 Pop Age 25+: Bachelor's Degree :	715	4,557	7,937
2024 Average Home Value :	$ 478,907	$ 529,272	$ 510,366

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Lafayette Road	Lewis Ln	2022	7,977	0.06 mi
NJ 181	Lewis Ln	2020	7,977	0.13 mi
Sparta Avenue	Lafayette Rd	2020	9,073	0.23 mi
New Sparta Ave	Knoll Rd	2012	23,747	0.26 mi
Woodport Road	Pine Cone Ln	2020	11,234	0.26 mi
Woodport Road	Lafayette Rd	2022	11,234	0.27 mi
Cross St	Spring St	2017	14,095	0.28 mi
Main Street	Sparta Ave	2019	12,356	0.31 mi
New Sparta Ave	State Hwy15	2012	15,756	0.31 mi
Sparta Avenue	State Hwy15	2017	15,389	0.31 mi

Listing Broker

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