Listed by Northmarq - Seattle, Northmarq
$2,180,000
Burger King
Details
Property Type Retail
Sub Type Restaurant
Square Footage 3,700
Units 1
Cap Rate 5.5%
NOI $120,000
Occupancy 100%
Tenancy Single
Brand/Tenant Burger King
Lease Type NNN
Remaining Term 3
Rent Bumps Yes
Lease Options 1; 5YR
Price per SqFt $589
Year Built 1988
Buildings 1
Zoning Downtown Mixed Use
Investment Type Net Lease
Tenant Credit Franchisee
Ground Lease No
Ownership Fee Simple
Retail | 5.50% CAP | 3,700 SqFt
Marketing description
Built-in 20% rent increase upon tenant exercising 10-year option, increasing yield an estimated 100 basis points.
Established Burger King location with 37-year operating history. This location ranks in the top 10 in OR and 83rd percentile nationwide.
Located within Gresham Town Fair, a 264K SF community shopping center which sees over 2.6M in annual visits and is anchored by Ross, Dick’s Sporting Goods, and PetSmart.
High visibility on hard corner of Division and Eastman Parkway, visible to 25,914 VPD.
High-density residential trade area with 235,000+ residents within a 5-mile radius.
Listing Contacts
Listed by Northmarq - Seattle, Northmarq
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$120,000.00
$10,000.00/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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