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Views: 123 DOM: 347 Updated: 05.20.24 Posted: 07.01.23 Status: Active

Summary

Price $2,017,000
Built/Renov 2019
Tenant Burger King
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,890
Lease Start 09-01-2019
#Units 3
Price/SF $697.92
Expiration 08-31-2039
Tenant Type Fast Food/QSR
NOI $121,000
R. Term 15.2
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...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

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...


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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
*ESRI data is presented for informational purposes only

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

Listing Broker

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