Burger King
Carrol's Corp Guaranty - Low Price Point Low Cost of Occupancy
Marketing description
Burger King at 1575 S Water St, Kent, OH 44240 presents an attractive net-leased investment opportunity in a high-traffic retail corridor near Kent State University. This established quick-service restaurant operates from a 3,338 SF freestanding building on 1.02 acres and was renovated in 2024, offering a refreshed asset with strong long-term utility for Burger King or a future drive-thru user.
The property is secured by an absolute NNN lease with zero landlord responsibilities and a Carrols Corp guaranty, delivering passive income and operational simplicity. Offered at $1,218,500, the asset features a 7.25% cap rate and $88,369 NOI, with 1% annual rent increases providing built-in income growth.
Strategically positioned at a signalized corner along S Water Street with visibility to 16,645 vehicles per day and near State Route 261 with 12,915 vehicles per day, the site benefits from strong access and exposure. The surrounding trade area is anchored by national retailers including Chase, CVS, McDonald’s, Starbucks, Wendy’s, Walgreens, AutoZone, and O’Reilly Auto Parts, supporting consistent consumer traffic in one of Kent’s most active retail nodes.
Investment highlights
- Absolute NNN Lease with ZERO Landlord Responsibilities
- Established Burger King Location with Long Operating History
- Attractive 7.25% Cap Rate with Immediate Cash Flow.
- Low Occupancy Cost with below-market rent and an exceptionally low price per square foot, the site's occupancy cost is easily supportable and highly replaceable for Burger King or a future drive-thru operator long term.
- Strategically Located Near Kent State University - The property benefits from proximity to Kent State University, one of Ohio’s largest public universities, driving consistent traffic from students, faculty, and surrounding residents
- High-Visibility Signalized Corner Location - Positioned along S Water Street (16,645 VPD) near State Route 261 (12,915 VPD), the property offers excellent visibility and convenient access within a heavily traveled retail corridor
- Surrounded by National Retailers - Located in an established retail trade area surrounded by national tenants including; Chase Bank, CVS Pharmacy, McDonald's, Subway, Starbucks, Wendy's, Walgreens, AutoZone, and O'Reilly Auto Parts
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