Burger King
Retail | 5.75% CAP | 2,640 SqFt
Marketing description
NNN Pro is pleased to present the exclusive listing for a Burger King located at 5960 Hwy 72, Gurley, AL. The site consists of roughly 2,640 rentable square feet of building space on an estimated 2.4-acre parcel of land. This Burger King is subject to a 20-year Triple Net (NNN) lease, which commenced 10/30/2018. The current annual rent is $144,233 and has scheduled increases of 1.00% annually.
Investment highlights
Recently Extended NNN Lease | The tenant recently extended their lease through 3/31/2045, signaling their long-term commitment to the site. With a new 20-year term absolute triple net (NNN) lease term, the subject property offers investors long-term passive income.
Rare Corporate Guarantee | Restaurant Brands International (NYSE: QSR) is one of the world's largest quick service restaurant companies, currently owning over 7,000 Burger King Restaurants. RBI has no ability to be relieved of this lease obligation in an assignment, showing the strength of this guarantee.
Affluent Area | The subject property benefits from being located in an affluent area with the average household income almost eclipsing $155,000 within a five-mile radius.
Strong Real Estate Fundamentals The subject property is located about 20 minutes outside Huntsville, AL, which is the most populous city in the state and an aerospace, technology, and engineering center in the region. Furthermore, there are over 73,000 individuals residing within a ten-mile radius of the subject property.
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