18234 Maugans Ave, Hagerstown, MD 21740

NNN Lease with Annual CPI Increases – This 1.76-acre property is leased to GPS Hospitality Partners II, LLC under an absolute NNN lease with zero landlord responsibilities. The primary lease term commenced in December 2014 and has approximately 12 years remaining, expiring in June 2038, with four 5-year extension options. This location has operated as a Burger King since 1998. The 3,682-square-foot building with drive-thru was fully remodeled in June 2018 at the tenant’s sole cost and expense. The lease features highly desirable annual CPI increases, providing a built-in hedge against inflation.

Immediately Adjacent to I-81 Interchange – The property is located at Exit 9 of Interstate 81, a heavily traveled route running north to south from the New York–Canadian border to eastern Tennessee. The Burger King is the first accessible QSR on the western side of the interchange, featuring 3 points of ingress and egress, a drive-thru lane, and a large pylon sign—making it convenient and highly visible to the 73,080 daily travelers along I-81. The interchange is also surrounded by national brands including McDonald’s, Dunkin’, Waffle House, and Taco Bell, which together serve as a major customer draw, particularly because the 2 adjacent exits have no national QSR brands in immediate proximity to the highway. The site further benefits from the 2023 closure of a Burger King on Pennsylvania Avenue, just 1.6 miles to the south. Heavy daily traffic, limited competition, and the scarcity of Burger Kings in the area combine to make this a top-performing location: Placer.ai reports average annual visits of 276,900, ranking it in the top 11% chainwide.

Oversized Parcel Offers Future Flexibility – Burger King occupies a large, 1.76-acre parcel at the first curb cut heading westbound off the interstate onto Maugans Avenue (7,840 VPD). This sizable rectangular pad gives the owner significant development opportunity should Burger King ever vacate. The site could accommodate two smaller footprint QSR users or a larger casual dining tenant.

Experienced QSR Franchisee – GPS Hospitality is a privately held quick-service restaurant franchisee founded in 2012 by Thomas A. Garrett, former president and CEO of Arby’s Restaurant Group. The company launched with the acquisition of 42 Burger King restaurants and has grown through additional acquisitions, new development, and multi-brand expansion. GPS currently operates more than 475 Burger King, Popeyes, and Pizza Hut locations across 13 states. The company has been recognized for its strong culture, strategic leadership, and operational excellence, with awards including QSR Magazine’s Franchisee of the Year in 2024 and Burger King’s Developer of the Year in 2023.