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Views: 27 DOM: 30 Updated: 05.13.24 Posted: 05.13.24 Status: Active

Summary

Price $1,950,000
Built/Renov 2008
Tenant Burger King
Cap Rate 5.05%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,579
Lease Start 01-06-2016
#Units 42
Price/SF $756.11
Expiration 12-31-2035
Tenant Type Fast Food/QSR
NOI $98,413
R. Term 11.6
Ownership Fee Simple
Rent/SF $38.16
Increases 10.0%/5/yrs
Pop 5Mi 16,782
Lot/AC 1.10
Options 2/5yrs/10%
AHHI 5Mi $50,660

Lease Highlights

  • Burger King has 11+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Tennessee Quality, LLC (42 units backed)

Location Description

Burger King is strategically located on Mineral Wells Avenue, the primary commercial corridor, with access to 21,170 vehicles passing by daily. The property is in close proximity to Henry County’s Regional Medical Campus and surrounded by several K-12 schools with a total of 4,484 students. Additionally, it is just west of Paris Landing State Park, which attracts over 1.5 million visitors...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Burger King
  • Guarantor:Franchisee
  • Company:Tennessee Quality, LLC
  • # Units:42
  • 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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Listing Broker

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