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Restaurant

Burger King

598 E Emmitt Ave, Waverly, OH 45690

Listing Price: $3,100,000

Cap Rate
5.00%
Tenant Name
Burger King
Years Remaining On Lease
19.6
Gross SF
3,267
Guarantor
Franchisee Guarantee
Rentable SF
3,267
Price/Gross SF
$948.88
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$47.44

Investment Overview

SITE FUNDAMENTALS The property consists of nearly one acre of land improved with a 3,267-square foot building. The recently remodeled restaurant has more than 19 years remaining on the original 20-year lease. Annual base rent is set at $155,000 with 7.5 percent rental increases every five years, as well as in each of the four five-year options. EXCELLENT LOCATION The restaurant sits on a large outparcel to a busy Kroger-anchored shopping center along Waverly’s main retain corridor, E Emmitt Avenue, part of US Hwy 23, which connects both small towns and big cities from Florida to Michigan. The restaurant enjoys high traffic counts of more than 24,000 cars per day from both local and commuter traffic in north and southbound directions. A healthy mix of residential, industrial and professional demand drivers nearby include neighboring retailers like Bob Evans, Tim Horton’s, Taco Bell, McDonald’s, and Dairy Queen ESTABLISHED HISTORICAL PRESENCE The Burger King has been a long-time tenant at this location with an established historical presence of more than 30 years. It is adjacent to Waverly High School’s football field and physical education facility, and minutes from the massive Rural King complex which includes a farming supplies center, gun store and a regional distribution center. True triple-net (NNN) lease with no landlord responsibilities and a healthy rent-to-sales ratio with sales trending above the brand’s national AUV. STRONG GUARANTEE | GLOBALY RECOGNIZED BRAND Strong 70-unit guarantee with Ampler Burgers Ohio, LLC , par of Ampler Restaurant Group, a rapidly growing, multi-brand franchise restaurant group currently operating 400+ restaurants, including Burger King, Taco Bell, Little Caesars and Church’s Chicken. Founded in 1954, the BURGER KING® brand is the second largest fast-food hamburger chain in the world.

Investment Highlights

  • Long Term 19-Year Lease | Triple-Net | No Landlord Responsibilities
  • Kroger-Anchored Outparcel | Strong 70-Unit Guarantee
  • High Traffic Counts of 24,000 VPD | Established Historical Presence

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Financing By

Restaurant

Burger King

Listing Price: $3,100,000

Cap Rate
5.00%
Tenant Name
Burger King
Years Remaining On Lease
19.6
Gross SF
3,267
Guarantor
Franchisee Guarantee
Rentable SF
3,267
Price/Gross SF
$948.88
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$47.44

Investment Highlights

  • Long Term 19-Year Lease | Triple-Net | No Landlord Responsibilities
  • Kroger-Anchored Outparcel | Strong 70-Unit Guarantee
  • High Traffic Counts of 24,000 VPD | Established Historical Presence

Investment Overview

SITE FUNDAMENTALS The property consists of nearly one acre of land improved with a 3,267-square foot building. The recently remodeled restaurant has more than 19 years remaining on the original 20-year lease. Annual base rent is set at $155,000 with 7.5 percent rental increases every five years, as well as in each of the four five-year options. EXCELLENT LOCATION The restaurant sits on a large outparcel to a busy Kroger-anchored shopping center along Waverly’s main retain corridor, E Emmitt Avenue, part of US Hwy 23, which connects both small towns and big cities from Florida to Michigan. The restaurant enjoys high traffic counts of more than 24,000 cars per day from both local and commuter traffic in north and southbound directions. A healthy mix of residential, industrial and professional demand drivers nearby include neighboring retailers like Bob Evans, Tim Horton’s, Taco Bell, McDonald’s, and Dairy Queen ESTABLISHED HISTORICAL PRESENCE The Burger King has been a long-time tenant at this location with an established historical presence of more than 30 years. It is adjacent to Waverly High School’s football field and physical education facility, and minutes from the massive Rural King complex which includes a farming supplies center, gun store and a regional distribution center. True triple-net (NNN) lease with no landlord responsibilities and a healthy rent-to-sales ratio with sales trending above the brand’s national AUV. STRONG GUARANTEE | GLOBALY RECOGNIZED BRAND Strong 70-unit guarantee with Ampler Burgers Ohio, LLC , par of Ampler Restaurant Group, a rapidly growing, multi-brand franchise restaurant group currently operating 400+ restaurants, including Burger King, Taco Bell, Little Caesars and Church’s Chicken. Founded in 1954, the BURGER KING® brand is the second largest fast-food hamburger chain in the world.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

Financing By

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