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Views: 52 DOM: 97 Updated: 06.03.24 Posted: 03.07.24 Status: Contract

Summary

Price $1,900,000
Built/Renov 1986/2019
Tenant Burger King
Cap Rate 6.30%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,707
Lease Start 12-01-1998
#Units 180
Price/SF $512.54
Expiration 12-31-2038
Tenant Type Fast Food/QSR
NOI $119,692
R. Term 14.6
Ownership Fee Simple
Rent/SF $32.29
Increases 0.0%/0/yrs
Pop 5Mi 64,791
Lot/AC 1.06
Options 2/5yrs
AHHI 5Mi $115,418

Lease Highlights

  • Burger King has been operating in this location since 1998
  • The tenant has 14+ years remaining on the current lease term with 2 (5-year) options to extend
  • Tenant is to pay an 8.50% rent override on sales above $1,408,136
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Cave Enterprises, LLC (180 units backed)

Location Description

Burger King is strategically located at the signalized, hard corner intersection of County Line Road & Rivercrest Drive, with access to a combined daily traffic count of 58,000 vehicles. The property occupies a prime location within an ideal retail corridor, within walking distance of well-known national retailers such as Costco, Walmart Supercenter, Target, Home Depot, and more. Additionally,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Burger King
  • Guarantor:Franchisee
  • Company:Cave Enterprises, LLC
  • # Units:180
  • 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 : 5,863 37,137 65,324
2023 Total Population : 5,890 36,958 64,791
2023 Employed Civilian Pop : 3,207 19,849 34,072
2023 Total Businesses : 290 1,616 2,624
2023 Average Household Income : $ 102,784 $ 107,594 $ 115,418
2023 Total Consumer Spending : $ 233 M $ 1498 M $ 2725 M
2023 Median Age : 45 45 44
2023 Total Households : 2,641 16,268 27,626
2023 Pop Age 25+: Bachelor's Degree : 1,488 8,715 14,899
2023 Average Home Value : $ 305,886 $ 325,757 $ 354,066
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
County Line Rd Rivercrest Dr 2018 32,100 0.09 mi
County Line Rd Emmer Rd 2016 32,400 0.20 mi
River Crest Dr Shady Ln 2015 10,300 0.21 mi
County Line Road Richfield Way 2019 31,700 0.21 mi
Emmer Rd 2019 5,700 0.22 mi
County Line Rd Emmer Rd 2016 4,800 0.23 mi
Appleton Ave Premier Ln 2018 14,200 0.26 mi
County Line Rd Shady Ln 2018 22,500 0.28 mi
2019 5,500 0.36 mi
Water St Co Rd Q 2019 8,000 0.37 mi

Listing Broker

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