Listed by Marcus & Millichap - Manhattan
$2,400,000
Burger King I Top Performing Mississippi Unit
Details
APN 3-643G-13-002.02
Property Type Retail
Sub Type Convenience Store, QSR/Fast Food
Square Footage 2,973
Net Rentable (SqFt) 2,973
Units 1
Cap Rate 6.33%
NOI $151,844
Occupancy 100%
Tenancy Single
Brand/Tenant Burger King
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 10/30/2037
Remaining Term 11.3
Rent Bumps Yes
Lease Options 4, 5-Year
Pro-Forma Cap Rate 6.33%
Pro-Forma NOI $151,844
Class A
Year Built 2016
Acreage 1.150
Investment Type Net Lease
Lease Commencement 10/31/2017
Ground Lease No
Corporate/Carrols Corp. Subsidiary Guarantee
Investment highlights
- Absolute NNN Burger King with Over 11 Years of Firm Term: Absolute NNN Burger King with Zero Landlord Management Located on a Highly Trafficked Section of City Avenue North (12,000 Vehicles Per Day (VPD)) in Ripley, Mississippi
- Top Ranking Store in Sales in the State of Mississippi: Placer.ai, the National Leader in Retail Analytics, Ranks This Store in the Top 25 Percent of All Burger Kings in the State of Mississippi in Sales Volume Suggesting Operational Success at This Location
- Upcoming Rent Increase in 2027 Boosting Cap Rate (6.81%): The Subject Lease Features Attractive 7.5 Percent Rent Increases Every 5-Years to Hedge Inflation with the Next Rent Increase Effective in Roughly One Year (November 2027) Boosting Initial Return to Nearly 7 Percent
- Lease Guaranteed by a Subsidiary of Restaurant Brands International: Lease Guaranteed by a Subsidiary of Burger King Corporate - Burger King Corporate Purchased Carrols Corporation (the Largest Burger King Franchisee in the Nation) in 2024 Which was the Parent Company of Louisiana Quality, LLC and Nashville Quality, LLC
- Strong Retail Synergies Driving Customer Traffic to This Location: This Burger King is Surrounded by a Host of the Nation’s Leading Retailers Including Walmart, McDonald’s, Taco Bell, O’Reilly Auto Parts, Texaco, Pizza Huts, Little Caesars, CVS/pharmacy, Among Others
- Just Two Minutes from Ripley Middle & High Schools: In Addition to Exceptional Retail Synergies, the Subject Property is Just Two Driving Minutes from Both Ripley High School and Ripley Middle School with Total Enrollment of Approximately 950 Students
Listing Contacts
Listed by Marcus & Millichap - Manhattan
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$151,844.00
$12,653.67/mo
Valuation Metrics
0
DSCR
6.33%
Cap Rate
6.33%
ROI
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