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Views: 146 DOM: 65 Updated: 06.03.24 Posted: 05.09.24 Status: Active

Summary

Price $2,542,000
Built/Renov 2002/2018
Tenant Burger King
Cap Rate 5.85%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,481
Lease Start 10-30-2018
#Units 32
Price/SF $567.28
Expiration 10-31-2038
Tenant Type Fast Food/QSR
NOI $148,731
R. Term 14.3
Ownership Fee Simple
Rent/SF $33.19
Increases 5.0%/4/yrs
Pop 5Mi 129,628
Lot/AC 0.89
Options 4/5yrs/5%
AHHI 5Mi $102,775

Lease Highlights

  • Burger King has 14+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Mosaic GC Holdings, LLC (32 units backed)

Location Description

Burger King is strategically located on Centerville Hwy/Hwy 124, with access to a high daily traffic count of 45,100 vehicles. The property is situated in the main retail corridor and serves as an outparcel to Centerville Shopping Center, which is anchored by Publix Super Market. Additionally, it is just two blocks away from a Walmart Supercenter-anchored shopping center. The immediate area...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Burger King
  • Guarantor:Franchisee
  • Company:Mosaic GC Holdings, LLC
  • # Units:32
  • 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 : 7,152 59,091 131,831
2023 Total Population : 7,035 58,594 129,628
2023 Employed Civilian Pop : 3,467 29,530 65,229
2023 Total Businesses : 232 1,087 3,251
2023 Average Household Income : $ 105,207 $ 101,297 $ 102,775
2023 Total Consumer Spending : $ 200 M $ 1646 M $ 3771 M
2023 Median Age : 36 36 38
2023 Total Households : 2,230 18,972 42,790
2023 Pop Age 25+: Bachelor's Degree : 1,161 9,095 22,965
2023 Average Home Value : $ 334,820 $ 321,865 $ 318,229
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Centerville Hwy Imperial Dr 2013 26,460 0.33 mi
Scenic Highway Zoar Church Rd SW 2019 33,100 0.46 mi
Centerville Rosebud Rd Spring Creek Cir 2012 17,685 0.56 mi
Saddle Ridge Dr SW Summit View Ln SW 2004 134 0.59 mi
Zoar Church Rd SW Arbor Oaks Dr 2014 5,654 0.60 mi
Johnson Dr Parks Ridge Dr SW 2014 2,852 0.68 mi
Zoar Church Rd SW Warwick Way 2013 6,257 0.77 mi
Annistown Rd Johnson Dr 2014 22,197 0.88 mi
Scenic Highway Huddersfield Dr SW 2019 32,100 1.05 mi
Centerville Rosebud Road Mink Livsey Rd 2018 12,900 1.09 mi

Listing Broker

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