Property details
Burger King For Sale, Northwest Region
Property Description
Burger King For Sale
Percentage Rent:
8.5% of gross sales in excess of $875,000 (natural breakpoint). Sales for the 12 months
ending September 2007 were $1,139,610. 2004 Sales: $893,774 / 2005 Sales: $986,073.
• Absolute Triple Net Lease
NOI is comprised of base rent of $74,375 at an 7.75% cap ($959,677) plus percentage rent of $22,491 at a 15% cap ($149,940).
This Burger King is a pad site to a Fred Meyer Marketplace with drive thru pharmacy and a Wal-Mart Supercenter is across the street.
This Burger King franchisee operates 14 Burger King's in one state. In addition, its owner is majority owner of a casual food chain which operates 15 locations in two states and is rapidly growing. This franchisee is also an Applebee's franchisee.
Properties related to Burger King For Sale
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Images
Highlights
- Status:
- Sold
- Price:
- $1,109,617
- PSF:
- $328
- Cap Rate:
- 8.73%
- Annual Rent:
- $96,866
- Rent Increases:
- Rent Escalates 10% On November 1st, 2008. $22,491 (10/2006 - 9/2007)
Property Information
- Building Size:
- 3,383 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Restaurant
- Units/Spaces:
- 1
- Land Area:
- 0.86 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Burger King
- Lease Type:
- NNN
- Lease Commencement:
- 10/1/1995
- Lease Expiration:
- 9/30/2015
- Lease Term:
- 20 years
- Years Remaining:
- 5 years
- Landlord Responsibilities:
- None
- Options:
- 5 (5) Year Options with 10% escalations at the beginning of each option period.
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.