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Restaurant

Burger King- 17 Yrs with Increases

3530 Orange Ave NE, Roanoke, VA 24012

Listing Price: $1,671,000

Cap Rate
4.75%
Tenant Name
Burger King
Years Remaining On Lease
17.2
Guarantor
Corporate Guarantee
Rentable SF
3,110
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.52

Investment Overview

Marcus & Millichap is pleased to present this exclusive offering for a Burger King located at 3530 Orange Avenue Northeast, Roanoke, Virginia. The subject property was remodeled in 2018 and consists of approximately 3,110 square feet of building space on a 0.94 +/- acre parcel. This investment opportunity has over 17 years remaining on a triple-net (NNN) lease. The original 16-year lease commenced in January 2004 and was extended early for an additional 20 years out to January 2040 showing a strong commitment to the site. The current annual rent is $79,380 and will increase by 5% every 5 years. The lease is subject to four 5-year renewal options. This Burger King is situated on Orange Avenue Northeast, a primary corridor in Roanoke, and boasts excellent visibility to an average daily traffic count of 38,000 vehicles. There are more than 43,000 individuals residing within a three-mile radius of the property and more than 103,000 individuals within a five-mile radius. The subject property benefits from being well-positioned in a dense retail corridor consisting of national and local tenants, academic institutions, medical facilities and shopping centers all within close proximity of this property. Major national tenants in the area include Walmart, Lowe’s, Kroger, Planet Fitness, CVS Pharmacy, Chick-fil-A, McDonald’s, Wendy’s, KFC, Sonic Drive-In, Starbucks, Domino’s, Firestone, as well as many others. This Burger King further benefits from being located 8 miles from Roanoke-Blacksburg Regional Airport. The airport serves approximately 300,000 passengers annually and provides direct access to eight major cities throughout the United States. Additionally, the subject investment property benefits from its immediate access to healthcare. The property is approximately one half of a mile from the new state of the art, LewisGale Medical Center Blue Hills ER.

Investment Highlights

  • Over 17 Years Remaining on NNN Lease
  • Strong Operator at Location since 2004
  • Rent Increases 5% Every 5 Years

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Financing By

Restaurant

Burger King- 17 Yrs with Increases

Listing Price: $1,671,000

Cap Rate
4.75%
Tenant Name
Burger King
Years Remaining On Lease
17.2
Guarantor
Corporate Guarantee
Rentable SF
3,110
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.52

Investment Highlights

  • Over 17 Years Remaining on NNN Lease
  • Strong Operator at Location since 2004
  • Rent Increases 5% Every 5 Years

Investment Overview

Marcus & Millichap is pleased to present this exclusive offering for a Burger King located at 3530 Orange Avenue Northeast, Roanoke, Virginia. The subject property was remodeled in 2018 and consists of approximately 3,110 square feet of building space on a 0.94 +/- acre parcel. This investment opportunity has over 17 years remaining on a triple-net (NNN) lease. The original 16-year lease commenced in January 2004 and was extended early for an additional 20 years out to January 2040 showing a strong commitment to the site. The current annual rent is $79,380 and will increase by 5% every 5 years. The lease is subject to four 5-year renewal options. This Burger King is situated on Orange Avenue Northeast, a primary corridor in Roanoke, and boasts excellent visibility to an average daily traffic count of 38,000 vehicles. There are more than 43,000 individuals residing within a three-mile radius of the property and more than 103,000 individuals within a five-mile radius. The subject property benefits from being well-positioned in a dense retail corridor consisting of national and local tenants, academic institutions, medical facilities and shopping centers all within close proximity of this property. Major national tenants in the area include Walmart, Lowe’s, Kroger, Planet Fitness, CVS Pharmacy, Chick-fil-A, McDonald’s, Wendy’s, KFC, Sonic Drive-In, Starbucks, Domino’s, Firestone, as well as many others. This Burger King further benefits from being located 8 miles from Roanoke-Blacksburg Regional Airport. The airport serves approximately 300,000 passengers annually and provides direct access to eight major cities throughout the United States. Additionally, the subject investment property benefits from its immediate access to healthcare. The property is approximately one half of a mile from the new state of the art, LewisGale Medical Center Blue Hills ER.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

Financing By

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