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Burger King (GL)
1315 South Watson Road, Buckeye, AZ 85326
$1,760,000
Cap Rate 5.00%
Views: 0 DOM: 55 Updated: 12.07.23 Posted: 10.17.23 Status: Contract 11.27.23
Summary
| Price $1,760,000 | Built/Renov 2018 | Tenant Burger King (GL) |
| Cap Rate 5.00% | Lease Type
Abs NNN | Guarantor Franchisee |
| Size/SF
3,237
| Lease Start
12-27-2018
| #Units
55
|
| Price/SF $543.71 | Expiration
12-31-2038
| Tenant Type Fast Food/QSR |
| NOI $88,000 | R. Term 15.0 | Ownership Ground Lease |
| Rent/SF
$27.19
| Increases 10.0%/5/yrs | Pop 5Mi 69,077 |
| Lot/AC 0.84 | Options 4/5yrs/10% | AHHI 5Mi $94,107 |
| | |
Lease Highlights
- Burger King has over 15 years remaining on the current lease term with 4 (5-year) options to extend
- Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
- Absolute NNN | Zero landlord responsibilities
- Lease guaranteed by Barnett Management Company
Location Description
Burger King benefits from excellent frontage along South Watson Road, with a daily traffic count of 60,260 vehicles. Additionally, it is conveniently located in close proximity to the I-10 Freeway, which sees approximately 93,400 vehicles, providing a direct connection to downtown Phoenix. The property is situated in a highly accessible dense retail corridor, adjacent to national big-box...
...Features
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High traffic 50M+ VPD
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Near major nationals
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Shopping Ctr out-parcel
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Highway close
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Top 100 MSA
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Affluent suburb location
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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:Barnett Management Company
- # Units:55
- Tenant S&P: BB
- Moody’s: B1
- Stock:NYSE: QSR 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 : | 12,837 | 41,264 | 82,114 |
| 2023 Total Population : | 11,064 | 38,460 | 78,291 |
| 2023 Employed Civilian Pop : | 5,317 | 18,844 | 37,103 |
| 2023 Total Businesses : | 166 | 289 | 697 |
| 2023 Average Household Income : | $ 103,475 | $ 103,683 | $ 107,139 |
| 2023 Total Consumer Spending : | $ 310 M | $ 1030 M | $ 2194 M |
| 2023 Median Age : | 36 | 32 | 32 |
| 2023 Total Households : | 3,467 | 11,484 | 23,708 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,285 | 3,282 | 7,559 |
| 2023 Average Home Value : | $ 342,882 | $ 387,912 | $ 403,497 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| S Watson Rd | W Hopi St | 2015 | 15,900 | 0.13 mi |
| South Watson Road | W Hopi St | 2018 | 16,722 | 0.13 mi |
| S Watson Rd | W Hammond Dr | 2014 | 14,161 | 0.61 mi |
| I-10 Exit 116 A-Ramp | I- 10 | 2020 | 2,666 | 0.66 mi |
| S Watson Rd | 2021 | 12,914 | 0.68 mi | |
| I- 10 | S Watson Rd | 2009 | 42,000 | 0.70 mi |
| North Watson Road | I- 10 | 2021 | 2,529 | 0.72 mi |
| S Watson Rd | 2021 | 3,195 | 0.77 mi | |
| S Watson Rd | 2021 | 13,490 | 0.78 mi | |
| I- 10 | S Watson Rd | 2015 | 68,116 | 1.24 mi |
