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Views: 106 DOM: 480 Updated: 06.20.24 Posted: 03.20.23 Status: Active

Summary

Price $1,236,000
Built/Renov 1984
Tenant Burger King
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,318
Lease Start 12-06-2019
#Units 181
Price/SF $533.22
Expiration 03-31-2026
Tenant Type Fast Food/QSR
NOI $74,176
R. Term 1.8
Ownership Fee Simple
Rent/SF $32.00
Increases 1.5%/1/yrs
Pop 5Mi 490,859
Lot/AC 0.86
Options 4/5yrs/1.5%
AHHI 5Mi $72,339

Lease Highlights

  • Burger King has been operating in this location since 2019
  • The tenant has 3 years remaining on its current lease with with 4 (5-year) options to extend
  • Lease features favorable 1.5% annual rent increases
  • Absolute NNN with zero landlord responsibilities
  • Guarantee by Cave Enterprises, a strong Burger King franchisee with 181 locations

Location Description

Burger King is located on the corner of West Lisbon Ave and West Appleton Avenue (61,100 VPD) providing excellent visibility via street sign frontage and multiple points of access providing ease and convenience for customers. The site is strategically located within a primary retail corridor with other nearby national/credit tenants including CVS, Wendy’s, Family Dollar, Advance Auto Parts,...

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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 : 30,180 195,012 489,844
2023 Total Population : 30,723 196,967 488,598
2023 Employed Civilian Pop : 14,632 85,903 221,414
2023 Total Businesses : 725 5,174 17,848
2023 Average Household Income : $ 87,737 $ 75,759 $ 74,900
2023 Total Consumer Spending : $ 984 M $ 5356 M $ 13529 M
2023 Median Age : 34 34 33
2023 Total Households : 12,874 80,789 206,286
2023 Pop Age 25+: Bachelor's Degree : 5,094 24,874 63,020
2023 Average Home Value : $ 254,392 $ 227,026 $ 233,599
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Lisbon Ave N 59th St 2016 11,100 0.03 mi
W Appleton Ave N 57th St 2019 18,400 0.03 mi
W Center St N 59th St 2019 6,600 0.06 mi
West Lisbon Avenue N 59th St 2019 11,600 0.07 mi
West Appleton Avenue N 58th St 2019 21,600 0.10 mi
W Center St N 56th St 2019 10,800 0.10 mi
N 60th St W Clarke St 2004 10,400 0.11 mi
W Appleton Ave N 59th St 2016 22,300 0.14 mi
W Center St N 61st St 2019 7,100 0.14 mi
West Appleton Avenue N 56th St 2019 27,500 0.14 mi

Listing Broker

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