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Views: 152 DOM: 573 Updated: 09.26.24 Posted: 03.17.23 Status: Active

Summary

Price $1,711,000
Built/Renov 1988/2021
Tenant Burger King
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,127
Lease Start 01-01-2000
#Units 19,384
Price/SF $804.42
Expiration 01-31-2035
Tenant Type Fast Food/QSR
NOI $77,000
R. Term 10.3
Ownership Fee Simple
Rent/SF $36.20
Increases 0.0%/0/yrs
Pop 5Mi 415,440
Lot/AC 1.10
Options 0/0yrs
AHHI 5Mi $53,085

Lease Highlights

  • Burger King has operated at this location for 22+ years
  • Recent renovations completed in 2021
  • Burger King has 10+ years remaining on its current lease
  • Absolute NNN lease | Zero landlord responsibilities 
  • Corporate guarantee by Restaurant Brands Int'l. (NYSE: QSR)

Location Description

Burger King is located at the signalized, hard corner intersection of Livernois and West Grand River Avenue with a combined 31,100 vehicles passing by daily. The asset is directly off of Interstate 96 (123,000 VPD), a 192-mile East/West primary thoroughfare serving the entire Lower Peninsula of Michigan and within close proximity to Interstate 96 with direct on/off ramp access. The site is...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,534 137,322 410,151
2023 Total Population : 11,620 138,713 413,627
2023 Employed Civilian Pop : 3,424 43,991 140,904
2023 Total Businesses : 239 2,780 10,309
2023 Average Household Income : $ 42,153 $ 48,846 $ 55,352
2023 Total Consumer Spending : $ 184 M $ 2262 M $ 7569 M
2023 Median Age : 40 36 35
2023 Total Households : 4,948 52,322 154,830
2023 Pop Age 25+: Bachelor's Degree : 650 8,383 32,027
2023 Average Home Value : $ 115,305 $ 136,709 $ 158,574
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
M 5 Woodside St 2021 11,555 0.12 mi
FROM LIVERNOIS AVE AND W CHICAGO ST VIA W I-96 SD Monica Ave 2021 4,423 0.15 mi
W Grand River Ave Burnette Ave 2014 4,246 0.15 mi
2019 2,895 0.17 mi
TO LIVERNOIS AND W CHICAGO ST VIA SE TURNER ST Burnette Ave 2021 3,404 0.18 mi
I 96 Service Drive Turner St 2021 6,381 0.19 mi
West Chicago Street 2019 3,093 0.19 mi
CHICAGO ST 2020 2,641 0.19 mi
Livernois Ave I- 96 2011 11,827 0.19 mi
2019 1,759 0.22 mi

Listing Broker

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