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Views: 37 DOM: 64 Updated: 06.03.24 Posted: 05.09.24 Status: Contract

Summary

Price $2,008,000
Built/Renov 2000
Tenant Burger King
Cap Rate 5.85%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,604
Lease Start 10-30-2018
#Units 32
Price/SF $436.14
Expiration 10-31-2038
Tenant Type Fast Food/QSR
NOI $117,496
R. Term 14.3
Ownership Fee Simple
Rent/SF $25.52
Increases 5.0%/4/yrs
Pop 5Mi 117,044
Lot/AC 1.17
Options 4/5yrs/5%
AHHI 5Mi $86,478

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 at the signalized, hard corner intersection of Fairview Road and Panola Road, the main retail corridor, with access to a combined daily traffic count of 26,320 vehicles. The property serves as an outparcel to a Kroger-anchored shopping center and is directly across the street from a Home Depot-anchored shopping center and an Ingles Market-anchored shopping...

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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 : 3,650 37,771 117,086
2023 Total Population : 3,555 38,012 117,044
2023 Employed Civilian Pop : 1,936 19,450 57,993
2023 Total Businesses : 146 478 1,809
2023 Average Household Income : $ 81,675 $ 94,096 $ 86,478
2023 Total Consumer Spending : $ 86 M $ 1061 M $ 3045 M
2023 Median Age : 40 39 37
2023 Total Households : 1,222 13,135 40,764
2023 Pop Age 25+: Bachelor's Degree : 196 5,454 14,710
2023 Average Home Value : $ 249,331 $ 258,043 $ 252,076
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Flakes Mill Road Gabion Loop 2019 6,300 0.20 mi
Panola Rd Fairview Rd 2014 8,130 0.24 mi
Panola Road Wabash Dr 2018 8,710 0.25 mi
2019 8,770 0.25 mi
Fairview Road Santa Fe Trl 2019 18,300 0.44 mi
Fairview Road Church Rd 2019 12,000 0.55 mi
Centennial Dr Fairview Rd 2013 9,180 0.73 mi
Deer Run Road Overlook Ct 2019 170 0.80 mi
Clark Drive Cook Dr 2019 1,380 0.81 mi
Panola Road Deer Run Rd 2019 9,660 0.87 mi

Listing Broker

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