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22155634
22155635

170 Barnetts Run Rd, Bridgeport, WV 26330

GF
WVB250301068
Marcus & Millichap - Cleveland
Listed by Marcus & Millichap - Cleveland
$2,600,000
142 days on market
Updated 118 days ago

Burger King

Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 4,236
Cap Rate 7.9%
NOI $205,347
Occupancy 100%
Tenancy Single
Brand/Tenant Burger King
Lease Type NNN
Lease Term 20
Lease Expiration 12/30/2033
Remaining Term 7.6
Rent Bumps Yes
Lease Options 4, 5-Year Options
Year Built 1986
Year Renovated 2020
Buildings 1
Stories 1
Acreage 1.010
Investment Type Net Lease
Tenant Credit Credit Rated, Franchisee
Lease Commencement 12/29/2013
Ground Lease No
Ownership Fee Simple

Burger King | Experienced QSR Franchisee | Long Term NNN Lease

Marketing description

Marcus & Millichap is pleased to present the opportunity to acquire a Burger King in Bridgeport, West Virginia. This is a long-term, triple net lease with approximately eight years remaining on the base term. The lease offers four, five-year tenant renewal options with 7.5 percent rent increases every five years throughout the base term and option periods. The building underwent renovations in 2020.

This Burger King is operated by GPS Hospitality, LLC, an experienced Burger King, Pizza Hut and Popeyes Louisiana Kitchen franchise. In addition to the Subject Property, the company operates almost 500 restaurants, 400 of which are Burger King. In June 2024,
QSR Magazine announced that GPS Hospitality was the first recipient of its Franchisee of the Year Award. And, in 2023, Burger King named GPS Hospitality its “Developer of the Year” at the Burger King North America Franchisee Convention.

The Subject Property is located in Bridgeport, W.V., directly off Interstate 79, which is a vital interstate highway connecting Bridgeport to major cities like Charleston, the state capital and most populous city in West Virginia, with a traffic count of more than 60,000 vehicles daily. The average household income within one mile of Subject Property is $103,270.

This Burger King is located at the main entry road to the Meadowbrook Mall which is anchored by Target, JCPenney and Marshalls, and has more than 100 other retailers on site. Other surrounding national brands include Dick's Sporting Goods, Old Navy, Hibbett Sports, Planet Fitness, Cinemark Theater, Ulta Beauty, BB&T, Chase Bank, Verizon, T-Mobile, Outback Steakhouse, TGI Friday's, Starbucks, Bob Evans, Hampton Inn, Holiday Inn Express & Suites, Days Inn & Suites, Best Western, Super 8 by Wyndham, Hawthorn Suites by Wyndham, Comfort Suites, Wingate by Wyndham and many more.

This Burger King is part of the Morgantown, WV metropolitan statistical area (MSA) and 32 miles from Morgantown, the largest city in north-central West Virginia. The Morgantown Metro encompasses several counties and plays a central role in the state's economy due to its educational institutions, healthcare, and business sectors.

This Property is two miles from West Virginia Junior College–Bridgeport Campus, with an enrollment of 146 students and nearly 200 staff and faculty members; and three miles from United Hospital Center, a 264-bed hospital with more than 140 primary care and specialty physicians. The Property is also only three miles from FBI’s Criminal Justice Information Services Division (CJIS), located in Clarksburg, WV – this is the FBI’s largest division and a major employer in the area.

Investment highlights

  • Top Performing Store; This is the #1 Burger King Location Within a 50-Mile Radius, According to Placer.ai

  • This Location is Ranked #6 Out of 51 Locations in the State of West Virginia, Which Puts it in the Top 90th Percentile

  • This Location is Also Ranked #349 Out of 6,156 Burger King Locations Across the United States, Putting it in the Top 94th Percentile

  • Triple Net (NNN) Lease With 7.5% Rent Increases Every 5 Years Throughout Base Term and Option Periods

  • Building was Remodeled in 2020

  • GPS Hospitality is a Privately Held Company that Operates Franchises for Burger King, Pizza Hut, and Popeyes Louisiana Kitchen

  • In June 2024, QSR Magazine Announced That GPS Hospitality was the First Recipient of its Franchisee of the Year Award

  • Average Annual Household Income Within One Mile of the Subject Property is $103,270, and Expected to Reach $115,767 by 2028

  • Located Directly Off Interstate 79, a Vital Interstate Highway Connecting Bridgeport to Major Cities like Charleston, the State Capital and Most Populous City in West Virginia, With a Traffic Count of More Than 60,000 Vehicles Daily

  • Located at the Main Entry Road to the Meadowbrook Mall, Anchored by Target, JCPenney and Marshalls, With More Than 100 Other Retailers

  • Three Miles from FBI’s Criminal Justice Information Services Division (CJIS), Located in Clarksburg, WV – This is the FBI’s Largest Division, a Major Employer in the Area, and Provides a Variety of Criminal Justice Information Services to Local, State, and Federal Agencies

Listing Contacts

GF
WVB250301068
Marcus & Millichap - Cleveland
Listed by Marcus & Millichap - Cleveland

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$205,347.00
$17,112.25/mo

Valuation Metrics

0
DSCR
7.9%
Cap Rate
7.9%
ROI

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Additional Information

Name
Grant Fitzgerald
License
WVB250301068
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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