Views: 1 DOM: 223 Updated: 07.17.23 Posted: 05.01.23 Status: Active


Price $1,481,400
Built/Renov 2016
Tenant Burger King
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,400
Lease Start 08-31-2016
#Units 129
Price/SF $336.68
Expiration 08-30-2036
Tenant Type Fast Food/QSR
NOI $118,512
R. Term 12.8
Ownership Fee Simple
Rent/SF $26.93
Increases 1.3%/1/yrs
Pop 5Mi 9,090
Lot/AC 1.96
Options 4/5yrs/1.25%
AHHI 5Mi $78,798

Lease Highlights

  • Burger King has a 7+ year operating history at this location
  • Tenant has over 13 years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features a 1.25% annual rent increase throughout the initial term and each option period
  • Absolute NNN with zero landlord responsibilities
  • Lease is fully guaranteed by Meridian Restaurants Unlimited, L.C., a growing 129-unit franchisee

Location Description

Burger King is strategically located at the intersection of Gouldings Road and U.S. Highway 2 which sees ±9,810 vehicles passing daily. U.S. Highway 2 is a major interstate and local thoroughfare for Devils Lake. Located within a primary retail corridor, nearby major national retailers include Walmart Supercenter, Dollar Tree, Cenex, O’Reilly Auto Parts, Applebee’s, McDonald’s, Maurice’s,...



  • 1 Mile
  • 3 Miles
  • 5 Miles


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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