Burger King

2232 East South Boulevard, Montgomery, AL 36116

$3,000,000

Cap Rate 6.00%

Views: 85 DOM: 129 Updated: 09.05.24 Posted: 05.09.24 Status: Active 09.05.24

Summary

Price $3,000,000	Built/Renov 2011/2019	Tenant Burger King
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,057	Lease Start 10-30-2018	#Units 35
Price/SF $981.35	Expiration 10-31-2038	Tenant Type Fast Food/QSR
NOI $180,000	R. Term 14.1	Ownership Fee Simple
Rent/SF $58.88	Increases 10.0%/4/yrs	Pop 5Mi 127,519
Lot/AC 0.58	Options 0/0yrs	AHHI 5Mi $66,148

Lease Highlights

Burger King has 14+ years remaining on the current lease term with no options to extend
The lease features 10% rental escalations throughout the initial term
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Bulldog Restaurants, LLC | Subsidiary of Starboard Group

Location Description

Burger King is strategically located on E South Boulevard, with access to a robust daily traffic count of 87,380 vehicles. The property serves as an outparcel to Capitol Plaza, which is anchored by Capitol International Market. It is within walking distance to Baptist Medical Center South and Governor's Square shopping center, anchored by Planet Fitness and Hibbett Sports, as well as Johnson...

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Key Features

High traffic 50M+ VPD
Near major nationals
Shopping Ctr out-parcel
Hospital close
Strong tenant synergy
Affluent AHHI $100K 5 Mi
Major MSA
Absolute NNN
Long 10+ yr lease
25+ unit franchisee backed

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Links

Burger King Wikipedia Burger King Wikipedia Montgomery, Alabama Zip Code 36116 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Franchisee
Company:Bulldog Restaurants, LLC
# Units:35
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 :	7,079	64,427	125,512
2023 Total Population :	7,199	65,699	127,519
2023 Employed Civilian Pop :	2,655	27,972	54,763
2023 Total Businesses :	240	1,918	5,295
2023 Average Household Income :	$ 68,627	$ 69,387	$ 66,148
2023 Total Consumer Spending :	$ 176 M	$ 1625 M	$ 3103 M
2023 Median Age :	40	35	36
2023 Total Households :	2,923	26,812	53,578
2023 Pop Age 25+: Bachelor's Degree :	862	7,663	15,831
2023 Average Home Value :	$ 179,360	$ 184,929	$ 179,045

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
East South Boulevard	St Helena Ave	2021	33,364	0.08 mi
Woodley Rd	Elsmeade Dr	2018	17,943	0.21 mi
Woodley Road	Woodley Rd	2020	16,602	0.23 mi
Woodley Road	Cloverdale Rd	2021	16,602	0.23 mi
Fisk Rd	Woodley Rd	2005	7,120	0.24 mi
Woodley Rd	Fairmont Rd	2018	5,902	0.27 mi
East South Boulevard	E Woodland Dr	2021	35,948	0.27 mi
West Blvd	Woodley Rd	2009	41,550	0.27 mi
Woodley Road	Allendale Rd	2021	5,534	0.27 mi
Woodley Road	Jim Wilson Loop E	2020	5,534	0.27 mi

Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

178 Listings
19357 Views
22 Sold

Aron Cline

Berkeley Capital Advisors

Contact

171 Listings
18716 Views
20 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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