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Views: 36 DOM: 46 Updated: 05.06.24 Posted: 04.10.24 Status: Active

Summary

Price $1,717,000
Built/Renov 2013
Tenant Burger King
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,325
Lease Start 10-30-2018
#Units 35
Price/SF $516.39
Expiration 10-31-2038
Tenant Type Fast Food/QSR
NOI $103,000
R. Term 14.5
Ownership Fee Simple
Rent/SF $30.98
Increases 10.0%/4/yrs
Pop 5Mi 142,524
Lot/AC 0.65
Options 0/0yrs
AHHI 5Mi $64,543

Lease Highlights

  • Burger King has 14+ years remaining on the current lease term with no options remaining
  • The lease features 10% rental escalations every 5 years throughout the lease term
  • Tenant will receive a 30-day rent abatement for remodeling the site in 2027 or later | Speak with Agent for details
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Bulldog Restaurants, LLC (35 units backed)

Location Description

Burger King is strategically located on Ann Street, with access to 47,840 vehicles passing by daily. The property is an outparcel to Midtown Plaza, a Walmart Supercenter-anchored shopping center housing other well-known national tenants such as Ross, Shoe Carnival, Chick-fil-A, Dollar Tree, O’Reilly Auto Parts, and more. Additionally, the site is conveniently within walking distance of I-85...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Burger King
  • Guarantor:Franchisee
  • Company:Bulldog Restaurants, LLC
  • # Units:35
  • 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
2028 Total Population : 9,727 68,294 140,036
2023 Total Population : 9,985 69,501 142,524
2023 Employed Civilian Pop : 4,415 29,593 60,724
2023 Total Businesses : 594 3,785 6,411
2023 Average Household Income : $ 55,750 $ 74,572 $ 64,543
2023 Total Consumer Spending : $ 209 M $ 1855 M $ 3367 M
2023 Median Age : 36 38 36
2023 Total Households : 4,276 28,538 59,518
2023 Pop Age 25+: Bachelor's Degree : 1,312 9,223 16,376
2023 Average Home Value : $ 140,227 $ 195,032 $ 169,822
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Highland Avenue Dewanee Ct 2021 2,461 0.16 mi
Highland Ave Longview St 2007 11,320 0.16 mi
Ann St Poplar St 2018 28,402 0.17 mi
Ann Street Plum St 2020 24,891 0.18 mi
Ann Street Thrasher St 2021 24,891 0.18 mi
Highland Avenue S Panama St 2021 8,543 0.24 mi
South Panama Street Highland Ave 2014 9,540 0.24 mi
Ann Street Plum St 2021 19,319 0.26 mi
Ann Street Brewton St 2020 19,319 0.26 mi
Chestnut Street Remount PkCemetery 2021 6,133 0.28 mi

Listing Broker

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