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Views: 28 DOM: 34 Updated: 06.03.24 Posted: 05.09.24 Status: Active

Summary

Price $1,789,000
Built/Renov 1979/2013
Tenant Burger King
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,442
Lease Start 10-30-2018
#Units 35
Price/SF $519.76
Expiration 10-31-2038
Tenant Type Fast Food/QSR
NOI $107,340
R. Term 14.4
Ownership Fee Simple
Rent/SF $31.19
Increases 10.0%/4/yrs
Pop 5Mi 10,779
Lot/AC 0.91
Options 0/0yrs
AHHI 5Mi $59,975

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 and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Tenant will receive a 30-day rent abatement for remodeling the site in 2026 or later | Speak with Agent for details
  • Lease guaranteed by Bulldog Restaurants LLC | Subsidiary of Starboard Group

Location Description

Burger King is strategically located on North Main Street, within walking distance of Tuskegee University, which enrolls 2,570 students. The property is surrounded by well-known national tenants, including Piggly Wiggly, McDonald's, Dollar General, Advance Auto Parts, and more. Additionally, within 3 miles of the site are Tuskegee Institute Middle School, Booker T. Washington High School, and...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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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