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Grocery Store

Burger King | Corporate Guarantee | Absolute NNN Lease

22 Marlborough St, Portland, CT 06480

Listing Price: $1,120,347

Cap Rate
5.75%
Tenant Name
Burger King Corporation
Years Remaining On Lease
4.6
Guarantor
Corporate Guarantee
Rentable SF
3,579
Lease Type
Ground Lease
Rent Per Square Feet
$18.00

Investment Overview

Marcus & Millichap is pleased to present for sale this corporate guaranteed, absolute net leased, fee simple Burger King located at 22 Marlborough Street in Portland, Connecticut. The subject property consists of a free-standing building comprised of 3,579 square feet and situated on a .76-acre parcel of land. The property is strategically located adjacent to a Walgreens which sits on the hard corner of Main Street and Marlborough Street and benefits from its ‘Main’ and ‘Main’ location. The subject property sits along and benefits from frontage to Marlborough Street (Rt-66), a major East-West thoroughfare, with vehicle traffic counts exceeding 22,283 per day. Across the street from the property, work has begun for an approved mixeduse development consisting of apartments, medical, office, and retail. The 14.7-Acre project will consist of 7 buildings and slated to commence development with Phase-I, which will include just under 100 residential apartment units, a Starbucks, The Sage House (future restaurant space), and restoration of the Brainerd House (the central clubhouse with many highend amenities) and relocation of the Hart Jarvis House to the front corner of the property. Phase-2 will commence immediately following completion. The apartments, plus the mix of retail and office, will create a true town village feel in the center of town which will bring tremendous value to the overall area, inclusive of the Burger King across the street. The area also features tremendous demographics with more than 75,000 full-time residents in the immediate trade area with average household incomes exceeding $107,000. The lease is guaranteed by Burger King Corporate which just recently exercised a 5-year option, displaying their commitment to the site. Burger King has two five-year options remaining. Burger King is an American-based multinational chain of hamburger fast food restaurants. Headquartered in Miami-Dade County, Florida, the company was founded in 1953 as Insta-Burger King, a Jacksonville, Florida– based restaurant chain. As of 2022, Burger King has over 18,700 locations worldwide. Burger King’s annual revenue is currently $1.6 billion. Burger King serves approximately 15.7 million customers per day. Burger King operates locations in over 100 countries.

Investment Highlights

  • Burger King Corporate Guarantee
  • Affluent Market | Average Household Incomes Exceed $100,000 in 5-Mile
  • Absolute NNN | Zero Landlord Responsibility
  • Fee Simple Allowing for Depreciation
  • Store Remodel as of 2015
  • New 14.7-Acre Mixed-Used Development Across the Street | Slated for Retail, Medical, and Office

Exclusively Listed By

Financing By

Grocery Store

Burger King | Corporate Guarantee | Absolute NNN Lease

Listing Price: $1,120,347

Cap Rate
5.75%
Tenant Name
Burger King Corporation
Years Remaining On Lease
4.6
Guarantor
Corporate Guarantee
Rentable SF
3,579
Lease Type
Ground Lease
Rent Per Square Feet
$18.00

Investment Highlights

  • Burger King Corporate Guarantee
  • Affluent Market | Average Household Incomes Exceed $100,000 in 5-Mile
  • Absolute NNN | Zero Landlord Responsibility
  • Fee Simple Allowing for Depreciation
  • Store Remodel as of 2015
  • New 14.7-Acre Mixed-Used Development Across the Street | Slated for Retail, Medical, and Office

Investment Overview

Marcus & Millichap is pleased to present for sale this corporate guaranteed, absolute net leased, fee simple Burger King located at 22 Marlborough Street in Portland, Connecticut. The subject property consists of a free-standing building comprised of 3,579 square feet and situated on a .76-acre parcel of land. The property is strategically located adjacent to a Walgreens which sits on the hard corner of Main Street and Marlborough Street and benefits from its ‘Main’ and ‘Main’ location. The subject property sits along and benefits from frontage to Marlborough Street (Rt-66), a major East-West thoroughfare, with vehicle traffic counts exceeding 22,283 per day. Across the street from the property, work has begun for an approved mixeduse development consisting of apartments, medical, office, and retail. The 14.7-Acre project will consist of 7 buildings and slated to commence development with Phase-I, which will include just under 100 residential apartment units, a Starbucks, The Sage House (future restaurant space), and restoration of the Brainerd House (the central clubhouse with many highend amenities) and relocation of the Hart Jarvis House to the front corner of the property. Phase-2 will commence immediately following completion. The apartments, plus the mix of retail and office, will create a true town village feel in the center of town which will bring tremendous value to the overall area, inclusive of the Burger King across the street. The area also features tremendous demographics with more than 75,000 full-time residents in the immediate trade area with average household incomes exceeding $107,000. The lease is guaranteed by Burger King Corporate which just recently exercised a 5-year option, displaying their commitment to the site. Burger King has two five-year options remaining. Burger King is an American-based multinational chain of hamburger fast food restaurants. Headquartered in Miami-Dade County, Florida, the company was founded in 1953 as Insta-Burger King, a Jacksonville, Florida– based restaurant chain. As of 2022, Burger King has over 18,700 locations worldwide. Burger King’s annual revenue is currently $1.6 billion. Burger King serves approximately 15.7 million customers per day. Burger King operates locations in over 100 countries.

Exclusively Listed By

Financing By

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