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Views: 251 DOM: 353 Updated: 09.10.24 Posted: 12.25.23 Status: Active

Summary

Price $1,350,000
Built/Renov 1972
Tenant Burger King
Cap Rate 5.58%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,358
Lease Start 01-20-2022
#Units 65
Price/SF $572.52
Expiration 01-31-2042
Tenant Type Fast Food/QSR
NOI $75,338
R. Term 17.1
Ownership Fee Simple
Rent/SF $31.95
Increases 10.0%/3/yrs
Pop 5Mi 330,642
Lot/AC 0.52
Options 4/5yrs/12.5%
AHHI 5Mi $53,520

Lease Highlights

  • Burger King has 18+ years remaining on the current lease term with 4 (5-year) options
  • Lease features 10% rental increase in 2026 and 12.5% rental increase every 5 years thereafter including options
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Rackson Restaurants, LLC

Location Description

Burger King is strategically located on Denison Avenue and West 67th Street, with a combined daily traffic count of 4,459 vehicles. This prime location is conveniently situated in a densely populated Cleveland neighborhood, offering excellent visibility and prominent signage. The site is conveniently located near Dave’s Mercado Supermarket, Arrow International World Headquarters and a large...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 18,727 154,496 323,305
2023 Total Population : 19,204 156,546 327,201
2023 Employed Civilian Pop : 7,203 75,151 164,089
2023 Total Businesses : 354 4,194 12,551
2023 Average Household Income : $ 47,178 $ 63,662 $ 70,333
2023 Total Consumer Spending : $ 304 M $ 4020 M $ 9301 M
2023 Median Age : 31 37 38
2023 Total Households : 7,284 71,626 150,943
2023 Pop Age 25+: Bachelor's Degree : 930 16,323 42,328
2023 Average Home Value : $ 135,086 $ 183,127 $ 191,845
*ESRI data is presented for informational purposes only

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