✖
Burger King
1207 North 2nd Street, Booneville, MS 38829
$1,945,680
Cap Rate 6.25%
Summary
| Price $1,945,680 | Built/Renov 2016 | Tenant Burger King |
| Cap Rate 6.25% | Lease Type
Abs NNN | Guarantor Franchisee |
| Size/SF
2,866
| Lease Start
07-01-2017
| #Units
1,094
|
| Price/SF $678.88 | Expiration
06-30-2037
| Tenant Type Fast Food/QSR |
| NOI $121,605 | R. Term 13.6 | Ownership Fee Simple |
| Rent/SF
$42.43
| Increases 1.5%/1/yrs | Pop 5Mi 11,882 |
| Lot/AC 1.00 | Options 4/5yrs/1.5% | AHHI 5Mi $54,891 |
| | |
Lease Highlights
- Burger King has over 14 years remaining on the current lease term with 4 (5-year) options to extend
- Lease features 1.5% annual rental increases each July
- Absolute NNN featuring zero landlord responsibilities
- Personal guarantee by Carrols Corporation, one of the largest Burger King restaurant franchisees in the U.S.(1,094 units)
Location Description
This 2,866 square foot Burger King is located at the signalized, hard corner intersection of North 2nd Street, the main north-south thoroughfare for the area, and East Parker Drive with access to 11,00 vehicles per day. The site is located less than a mile north of Northeast Mississippi Community College (3,512 students) further increasing consumer draw to the area. National/credit tenants...
...Features
-
Signalized intersection
-
Hard corner intersection
-
Major thoroughfare
-
Dense retail corridor
-
University college close
-
Absolute NNN
-
Long 10+ yr lease
-
Annual rent increases
-
Traded and rated company
-
Personal guarantee
...
Maps
Tenant
- Tenant: Nashville Quality, LLC2
- Guarantor:Franchisee
- Company:Carrols Corporation
- # Units:1,094
- 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 : | 1,549 | 8,579 | 11,741 |
| 2023 Total Population : | 1,568 | 8,677 | 11,874 |
| 2023 Employed Civilian Pop : | 392 | 3,036 | 4,349 |
| 2023 Total Businesses : | 122 | 458 | 497 |
| 2023 Average Household Income : | $ 66,455 | $ 65,511 | $ 66,214 |
| 2023 Total Consumer Spending : | $ 14 M | $ 181 M | $ 260 M |
| 2023 Median Age : | 24 | 36 | 37 |
| 2023 Total Households : | 239 | 3,114 | 4,407 |
| 2023 Pop Age 25+: Bachelor's Degree : | 66 | 812 | 1,057 |
| 2023 Average Home Value : | $ 173,227 | $ 154,498 | $ 148,108 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| North 2nd Street | Parker Dr | 2018 | 11,000 | 0.03 mi |
| N 2nd St | Ridgemont Villa | 2006 | 11,000 | 0.12 mi |
| Homer Road | N 2nd St | 2018 | 340 | 0.16 mi |
| North College Street | American Legion St | 2018 | 2,100 | 0.44 mi |
| Bolton Road | Bolton Ave | 2018 | 550 | 0.48 mi |
| Parker Drive | E Parker Dr | 2018 | 2,300 | 0.51 mi |
| West Chambers Drive | Pinewood Rdg | 2018 | 7,000 | 0.53 mi |
| E Chambers Dr | Townhouse Dr | 2006 | 6,900 | 0.60 mi |
| West George E Allen Drive | N College St | 2018 | 4,100 | 0.77 mi |
| West Loveless Road | E Loveless Rd | 2018 | 270 | 0.80 mi |
