Burger King

1829 Old Spanish Trail, Slidell, LA 70458

$2,000,000

Cap Rate 5.25%

Views: 173 DOM: 163 Updated: 10.16.24 Posted: 05.14.24 Status: Active

Summary

Price $2,000,000	Built/Renov 2024	Tenant Burger King
Cap Rate 5.25%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,765	Lease Start 12-01-2024	#Units 190
Price/SF $723.33	Expiration 11-30-2044	Tenant Type Fast Food/QSR
NOI $105,000	R. Term 20.1	Ownership Fee Simple
Rent/SF $37.97	Increases 8.0%/5/yrs	Pop 5Mi 79,901
Lot/AC 0.78	Options 4/5yrs/8%	AHHI 5Mi $89,692

Lease Highlights

Brand new 2024 construction
Brand new 20-year lease with 4 (5-year) options to extend upon close of escrow
The lease features 8% rental increases throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by GPS Hospitality Partners (190-unit operator)

Location Description

Burger King is strategically located on Old Spanish Trail, with access to 18,200 vehicles passing by daily. The property is conveniently situated directly off Interstate 10, which sees 84,300 VPD, offering direct on/off ramp access. The immediate trade area is supported by well-known national tenants, including Circle K, ServePro, Super 8, Shell, Wendy’s, and more. The 5-mile trade area is...

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Key Features

New construction
Dense retail corridor
Near major nationals
Freeway close
Top 100 MSA
Affluent suburb location
Brand new lease
Long 20+ yr lease
Absolute NNN
100+ unit franchisee backed

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Links

Burger King Wikipedia Burger King Wikipedia Slidell, Louisiana Zip Code 70458 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Burger King
Guarantor:Franchisee
Company:GPS Hospitality Partners
# Units:190
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

Michael Berk

SRS National Net Lease Group

Contact

31 Listings
3784 Views
9 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

260 Listings
24848 Views
90 Sold

Michael Berk

Michael Berk joined SRS Real Estate Partners in 2019 as senior associate in our Atlanta office as a part of the Capital Markets team. Prior to SRS, Michael worked with Calkain, where he assisted in the disposition and acquisition of net lease assets, along with structuring sale-leasebacks for QSR operators. Prior to that, he worked in the corporate marketing department at Talladega Superspeedway where he sold large-scale marketing platforms along with venue entertainment packages. Michael is

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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