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Restaurant

Burger King (Cody)

1902 Mountain View Dr, Cody, WY 82414

Listing Price: $1,595,000

Cap Rate
6.57%
Tenant Name
Burger King
Years Remaining On Lease
11.4
Gross SF
3,754
Guarantor
Franchisee Guarantee
Rentable SF
3,754
Price/Gross SF
$424.88
Lease Type
Absolute Net
Rent Per Square Feet
$27.90

Investment Overview

Marcus & Millichap is proud to offer for sale the fee simple ownership in the only Burger King located in Cody, Wyoming. Burger King signed an absolute NNN lease (zero landlord responsibility of any kind) in 2013 that has an expiration date of June 29, 2034 and includes scheduled rental escalations every five years. The franchisee on the lease is HR Restaurants, LC which is a subsidiary of Meridian Restaurants which operates 119 restaurants including Burger King and Black Bear Diner. Meridian was founded in 2002 and is headquartered in Utah and operates restaurants in ten different states (WY, ID, MT, UT, NE, KS, MN, ND, and SD). The site is ideally located along US Highway 14 with great traffic visibility and is the first commercial restaurant/retail property a visitor sees as they exit the Yellowstone Regional Airport and drive west into downtown Cody. Highway 14 has an eastern terminus of Chicago with its western terminus as the east entrance of Yellowstone National Park. Cody, Wyoming is the county seat of Park County and is located approximately 60 miles east from Yellowstone National Park’s east entrance. Cody is a thriving community focused on serving the needs of the stable population base as well as the hundreds of thousands of annual visitors who travel from around the world to experience the beauty and culture of this mountainous area. Cody was founded by Colonel William F. "Buffalo Bill" Cody, who passed through the region in the 1870s. He was so impressed by the many development possibilities that he returned in the mid-1890s to start a town. Cody is the “Rodeo Capitol of the World.” From the turn of the century, rodeos and parades have been part of the 4th of July in Cody. Outdoor adventure includes rock climbing, mountain biking, hiking, kayaking, fly-fishing, horseback riding or river rafting. Three scenic byways offer opportunities to view wildlife and see some of the most beautiful landscapes anywhere. Cody’s downtown includes fine restaurants, art galleries, unique shopping and the historic Irma Hotel.

Investment Highlights

  • Absolute NNN Lease with Scheduled Rent Bumps Through June 2034
  • Operated by Franchisee with 119 Restaurants (Burger King & Black Bear Diner) in 10 States
  • Highway 14 Frontage Location – First Commercial/Restaurant Property Upon Leaving the Yellowstone Regional Airport and Travelling West Into Downtown Cody
  • Other National Retailers Nearby in Cody Include Walmart, Tractor Supply, McDonald's, Albertsons, AutoZone, Walgreens, and Dollar Tree
  • Cody is the Gateway Community for the Popular East Entrance to Yellowstone National Park

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s) WY: RE-16571

    Wyoming

Financing By

Restaurant

Burger King (Cody)

Listing Price: $1,595,000

Cap Rate
6.57%
Tenant Name
Burger King
Years Remaining On Lease
11.4
Gross SF
3,754
Guarantor
Franchisee Guarantee
Rentable SF
3,754
Price/Gross SF
$424.88
Lease Type
Absolute Net
Rent Per Square Feet
$27.90

Investment Highlights

  • Absolute NNN Lease with Scheduled Rent Bumps Through June 2034
  • Operated by Franchisee with 119 Restaurants (Burger King & Black Bear Diner) in 10 States
  • Highway 14 Frontage Location – First Commercial/Restaurant Property Upon Leaving the Yellowstone Regional Airport and Travelling West Into Downtown Cody
  • Other National Retailers Nearby in Cody Include Walmart, Tractor Supply, McDonald's, Albertsons, AutoZone, Walgreens, and Dollar Tree
  • Cody is the Gateway Community for the Popular East Entrance to Yellowstone National Park

Investment Overview

Marcus & Millichap is proud to offer for sale the fee simple ownership in the only Burger King located in Cody, Wyoming. Burger King signed an absolute NNN lease (zero landlord responsibility of any kind) in 2013 that has an expiration date of June 29, 2034 and includes scheduled rental escalations every five years. The franchisee on the lease is HR Restaurants, LC which is a subsidiary of Meridian Restaurants which operates 119 restaurants including Burger King and Black Bear Diner. Meridian was founded in 2002 and is headquartered in Utah and operates restaurants in ten different states (WY, ID, MT, UT, NE, KS, MN, ND, and SD). The site is ideally located along US Highway 14 with great traffic visibility and is the first commercial restaurant/retail property a visitor sees as they exit the Yellowstone Regional Airport and drive west into downtown Cody. Highway 14 has an eastern terminus of Chicago with its western terminus as the east entrance of Yellowstone National Park. Cody, Wyoming is the county seat of Park County and is located approximately 60 miles east from Yellowstone National Park’s east entrance. Cody is a thriving community focused on serving the needs of the stable population base as well as the hundreds of thousands of annual visitors who travel from around the world to experience the beauty and culture of this mountainous area. Cody was founded by Colonel William F. "Buffalo Bill" Cody, who passed through the region in the 1870s. He was so impressed by the many development possibilities that he returned in the mid-1890s to start a town. Cody is the “Rodeo Capitol of the World.” From the turn of the century, rodeos and parades have been part of the 4th of July in Cody. Outdoor adventure includes rock climbing, mountain biking, hiking, kayaking, fly-fishing, horseback riding or river rafting. Three scenic byways offer opportunities to view wildlife and see some of the most beautiful landscapes anywhere. Cody’s downtown includes fine restaurants, art galleries, unique shopping and the historic Irma Hotel.

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s): WY: RE-16571

    Wyoming

Financing By

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