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Burger King
1450 South Water Street, Burnet, TX 78611
$2,068,000
Cap Rate 5.85%
Summary
| Price $2,068,000 | Built/Renov 2019 | Tenant Burger King |
| Cap Rate 5.85% | Lease Type
Abs NNN | Guarantor Franchisee |
| Size/SF
2,890
| Lease Start
09-01-2019
| #Units
3
|
| Price/SF $715.57 | Expiration
08-31-2039
| Tenant Type Fast Food/QSR |
| NOI $121,000 | R. Term 15.8 | Ownership Fee Simple |
| Rent/SF
$41.87
| Increases 10.0%/1/yrs | Pop 5Mi 10,169 |
| Lot/AC 0.95 | Options 5/5yrs/10% | AHHI 5Mi $90,981 |
| | |
Lease Highlights
- Burger King has 16 years remaining on the current lease term with 5 (5-year) options to extend
- Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
- Absolute NNN | Zero landlord responsibilities
- Personal guarantee by Jimmy Jamshed (Landmark & Landmark Group, LLC)
Location Description
This 2,890 square foot Burger King is situated on a .95 acre parcel along South Water Street (US Hwy 281) with access to 24,266 vehicles per day. The site is directly across from The Y at Galloway-Hammond, a large recreation center hosting 40 team baseball tournaments drawing from Austin and San Antonio, further increasing consumer draw to the area. National/credit tenants in the area Taco...
...Features
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Major thoroughfare
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Dense retail corridor
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Near major nationals
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Highway location
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Affluent suburb location
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Income tax free state
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Long 15+ yr lease
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Absolute NNN
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Traded and rated company
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Personal guarantee
...
Maps
Tenant
- Tenant: Burger King
- Guarantor:Franchisee
- Company:Landmark & Landmark Group, LLC
- # Units:3
- 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 : | 1,993 | 8,559 | 11,051 |
| 2023 Total Population : | 1,967 | 8,201 | 10,553 |
| 2023 Employed Civilian Pop : | 813 | 3,892 | 4,957 |
| 2023 Total Businesses : | 270 | 502 | 543 |
| 2023 Average Household Income : | $ 86,915 | $ 104,112 | $ 104,096 |
| 2023 Total Consumer Spending : | $ 36 M | $ 281 M | $ 366 M |
| 2023 Median Age : | 38 | 41 | 42 |
| 2023 Total Households : | 466 | 3,026 | 3,934 |
| 2023 Pop Age 25+: Bachelor's Degree : | 202 | 851 | 1,171 |
| 2023 Average Home Value : | $ 203,483 | $ 263,799 | $ 304,734 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| S Pierce St | E Willow St | 2010 | 270 | 0.49 mi |
| Morman Mills Rd | Mormon Mills Rd | 2010 | 360 | 0.67 mi |
| S Water St | W Washington St | 2010 | 19,000 | 0.79 mi |
| E Pecan St | S Silver St | 2010 | 2,240 | 0.80 mi |
| West Polk Street | Watts St | 2020 | 15,396 | 0.83 mi |
| South Water Street | Bunk Gibbs | 2021 | 24,266 | 0.84 mi |
| South Water Street | W Washington St | 2020 | 21,865 | 0.84 mi |
| Co Rd 340A | Co Rd 340B | 2010 | 440 | 0.88 mi |
| West Polk Street | S West St | 2021 | 20,944 | 0.89 mi |
| Buchanan Dr | Fort Croghan Dr | 2002 | 11,900 | 0.95 mi |
