4205 Arendell St, Morehead City, NC 28557

Single-Tenant Burger King located in a high growth coastal market of North Carolina, Morehead City

Long-term historical occupancy of nearly 40 years

Conservative rent of only $98,398 ($30/SF) and price/SF of $488 (below replacement value)

Large parcel of 1.1 acres

Corporate Guarantee from Carrols Corporation- Carrols, founded in 1960, currently operates over 1,000 locations across 23 states- Carrols was acquired by Restaurant Brands International (NYSE: QSR) in May 2024

Restaurant Brands International operates over 32,000 QSR’s between the brands Burger King, Tim Hortons, Popeyes, and Firehouse Subs- reported revenue of $8.4 billion and Net Income of $4.8 billion in 2024

In Q3 2025, Burger King’s U.S. same store sales rose 3.2%

Morehead City is a major hub for tourism within Carteret County thanks to its waterfront, festivals, and proximity to the Crystal Coast, an 85-mile stretch of coastline that extends from the Cape Lookout National Seashore, which includes 56 miles of protected beaches, southwestward to the New River

Carteret County’s tourism revenue reached nearly $750 million in 2024, a 1.5% increase from 2023- Overall, the state’s local tax receipts grew to $36.7 billion, an increase of 3.1% over the previous year- According to Visit NC numbers, Carteret County ranked 11th in total impact for the state’s tourism income

High traffic corridor- nearly 32,000 cars/day on Arendell Street- dense retail and medical corridor with several multi-floor medical office buildings, national QSR’s, several high-rise condo communities, and 70 West Marina (established in 1972, 70 West has become a North Carolina landmark that can store over 250 boats)

The Burger King went through a full remodel in 2017