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Views: 48 DOM: 112 Updated: 11.11.24 Posted: 08.12.24 Status: Active

Summary

Price $3,200,000
Built/Renov 2015
Tenant Burger King
Cap Rate 4.95%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,860
Lease Start 11-01-2020
#Units 1
Price/SF $829.02
Expiration 02-19-2035
Tenant Type Fast Food/QSR
NOI $158,400
R. Term 10.2
Ownership Fee Simple
Rent/SF $41.04
Increases 10.0%/5/yrs
Pop 5Mi 290,446
Lot/AC 0.72
Options 4/5yrs/10%
AHHI 5Mi $132,679

Lease Highlights

  • Burger King has 10+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Franchisee guaranteed lease

Location Description

Burger King is strategically located at the signalized, hard-corner intersection of S Jordan Parkway and River Heights Drive, with access to a combined daily traffic count of 41,543 vehicles. The property is an outparcel to Walmart Supercenter and is surrounded by other well-known national tenants including Costco Wholesale, UPS, Jersey Mike's, Culver's, and more. The 5-mile trade area...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Burger King
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:1
  • 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, chicken sandwiches, breakfast sandwiches,...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 14,957 123,134 308,682
2024 Total Population : 14,753 121,978 296,488
2024 Employed Civilian Pop : 8,060 65,234 164,110
2024 Total Businesses : 237 2,545 7,951
2024 Average Household Income : $ 177,507 $ 160,179 $ 140,332
2024 Total Consumer Spending : $ 646 M $ 5145 M $ 11423 M
2024 Median Age : 34 34 33
2024 Total Households : 4,263 37,345 94,004
2024 Pop Age 25+: Bachelor's Degree : 2,857 21,083 47,810
2024 Average Home Value : $ 674,919 $ 664,693 $ 638,882
*ESRI data is presented for informational purposes only

Listing Broker

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