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Views: 98 DOM: 65 Updated: 08.02.24 Posted: 07.04.24 Status: Active

Summary

Price $2,135,740
Built/Renov 2009
Tenant Burger King (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 11-23-2009
#Units 19,384
Price/SF $854.30
Expiration 11-22-2029
Tenant Type Fast Food/QSR
NOI $106,787
R. Term 5.2
Ownership Ground Lease
Rent/SF $42.71
Increases 12.5%/4/yrs
Pop 5Mi 72,889
Lot/AC 0.91
Options 4/5yrs/12.5%
AHHI 5Mi $75,315

Lease Highlights

  • Burger King has been operating in this location since 2009
  • The tenant has 5+ years remaining on the current ground lease term with 4 (5-year) options to extend
  • The lease features 12.5% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Burger King is strategically located on US-17, with access to 32,000 vehicles passing by daily. The property is just east of Hwy 27, which has 62,000 VPD, and is a pad site to a Publix and Bealls anchored shopping center. The immediate area is surrounded by other well-known national tenants, including Dollar General, Enterprise Rent-a-Car, Advance America, and Anytime Fitness. The 5-mile trade...

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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, in addition to chicken sandwiches, breakfast...


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Listing Broker

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