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Burger King (GL)
1207 Harrisburg Pike, Carlisle, PA 17013
$4,800,000
Cap Rate 5.50%
Summary
| Price $4,800,000 | Built/Renov 2023 | Tenant Burger King (GL) |
| Cap Rate 5.50% | Lease Type
Abs NNN | Guarantor Franchisee |
| Size/SF
3,278
| Lease Start
03-01-2022
| #Units
20
|
| Price/SF $1,464.31 | Expiration
02-29-2052
| Tenant Type Fast Food/QSR |
| NOI $264,155 | R. Term 28.2 | Ownership Ground Lease |
| Rent/SF
$80.58
| Increases 2.7%/5/yrs | Pop 5Mi 51,456 |
| Lot/AC 1.45 | Options 2/5yrs | AHHI 5Mi $99,830 |
| | |
Lease Highlights
- Brand-new 2023 construction
- Burger King has over 28 years remaining on the current lease term with 2 (5-year) options to extend
- Lease features 2.65% rental increase at year 6 and FMV at the start of each option
- Absolute NNN ground lease | Zero landlord responsibilities
- Lease guaranteed by Giangrande Corporation
Location Description
This newly constructed 3,278 square foot Burger King is strategically located at the signalized, hard corner intersection of Harrisburg Pike and Route 11 seeing 21,984 vehicles per day. The property is less than 1 mile from on/off ramps to both I-81 (65,388 VPD) and I-76/Pennsylvania Turnpike (23,328 VPD), providing easy access for customers traveling throughout the region in all directions....
...Features
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New construction
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Signalized intersection
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Hard corner intersection
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Near major nationals
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Highway close
-
Top 100 MSA
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Affluent suburb location
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Long 20+ yr lease
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Absolute NNN
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Personal guarantee
...
Maps
Tenant
- Tenant: Burger King
- Guarantor:Franchisee
- Company:Giangrande Corporation
- # Units:20
- Tenant S&P: BB
- Moody’s: B1
- Stock:NYSE: QSR
About Tenant
Burger King is an American-based multinational chain of hamburger fast food restaurants, and the second largest fast food hamburger chain in the world. The Burger King menu features their...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 453 | 18,732 | 52,417 |
| 2023 Total Population : | 454 | 18,482 | 51,195 |
| 2023 Employed Civilian Pop : | 189 | 9,089 | 26,714 |
| 2023 Total Businesses : | 87 | 684 | 1,799 |
| 2023 Average Household Income : | $ 86,270 | $ 99,092 | $ 99,675 |
| 2023 Total Consumer Spending : | $ 12 M | $ 622 M | $ 1775 M |
| 2023 Median Age : | 50 | 44 | 42 |
| 2023 Total Households : | 170 | 7,319 | 20,671 |
| 2023 Pop Age 25+: Bachelor's Degree : | 69 | 2,869 | 8,125 |
| 2023 Average Home Value : | $ 354,365 | $ 285,715 | $ 299,052 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Harrisburg Pike | S Middlesex Rd | 2021 | 29,454 | 0.02 mi |
| Harrisburg Pike | N Letort Dr | 2019 | 12,370 | 0.02 mi |
| Harrisburg Pike | N Letort Dr | 2019 | 9,618 | 0.04 mi |
| North Middlesex Road | Mill Rd | 2021 | 3,734 | 0.19 mi |
| N Middlesex Rd | Clemson Dr | 2019 | 5,404 | 0.24 mi |
| Harrisburg Pike | Pilot Dr | 2017 | 21,984 | 0.25 mi |
| S Middlesex Rd | I- 81 | 2017 | 3,310 | 0.40 mi |
| I- 81 | S Middlesex Rd | 2017 | 65,388 | 0.45 mi |
| Harrisburg Pike | I- 76 | 2019 | 6,279 | 0.48 mi |
| Harrisburg Pike | 2021 | 4,604 | 0.53 mi |
