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Restaurant

Burger King

2651 S Veterans Pkwy, Springfield, IL 62704

Listing Price: $1,730,900

Cap Rate
6.00%
Tenant Name
Carrols Corporation
Years Remaining On Lease
5.7
Gross SF
3,711
Guarantor
Franchisee Guarantee
Rentable SF
3,711
Price/Gross SF
$466.42
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$27.99

Investment Overview

Every day, more than 11 million guests visit Burger King restaurants around the world. Founded in 1954, the Burger King brand is the second-largest fast food hamburger chain in the world. The original Home of the Whopper, the Burger King system operates more than 18,700 locations in more than 100 countries and U.S. territories. Almost 100 percent of Burger King restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. Carrols is one of the largest restaurant franchisees in the United States. It is the largest Burger King franchisee in the U.S., currently operating 1,029 Burger King restaurants in 23 states as well as 65 Popeyes restaurants in seven states. Carrols has operated Burger King restaurants since 1976 and Popeyes restaurants since 2019. Springfield is the capital of Illinois and the county seat of Sangamon County. The city is the state’s sixth most-populous city, the second largest outside of the Chicago metropolitan area, and the largest in central Illinois. As of the 2020 census, the city’s population was 114,394 with approximately 208,000 residents living in the Springfield metropolitan area. Springfield is situated about 100 miles northeast of St. Louis, Missouri, and some 185 miles southwest of Chicago.

Investment Highlights

  • Absolute Triple-Net (NNN) Lease with Six Years Remaining on Term.
  • Recent-Remodeled Site Includes a Drive-Thru.
  • Tenant is the Largest Burger King Franchisee in the U.S. with 1,029 Locations.
  • Multiple Renewal Options Available on Lease.
  • Adjacent to Sam's Club, White Oaks Mall, and Several Big Box National Retailers.
  • Excellent Visibility and Accessibility at Hard-Corner Signalized Location Along South Veterans Parkway (27,800 Cars per Day) and West Iles Avenue (13,800 Cars per Day).
  • Central Location Less than 15-Minute Commute to Downtown Springfield, Abraham Lincoln Airport, and The University of Illinois Springfield.
  • Over $126,000 Annual Household Income in Immediate Proximity to Site.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Financing By

Listing Price: $1,730,900

Cap Rate
6.00%
Tenant Name
Carrols Corporation
Years Remaining On Lease
5.7
Gross SF
3,711
Guarantor
Franchisee Guarantee
Rentable SF
3,711
Price/Gross SF
$466.42
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$27.99

Investment Highlights

  • Absolute Triple-Net (NNN) Lease with Six Years Remaining on Term.
  • Recent-Remodeled Site Includes a Drive-Thru.
  • Tenant is the Largest Burger King Franchisee in the U.S. with 1,029 Locations.
  • Multiple Renewal Options Available on Lease.
  • Adjacent to Sam's Club, White Oaks Mall, and Several Big Box National Retailers.
  • Excellent Visibility and Accessibility at Hard-Corner Signalized Location Along South Veterans Parkway (27,800 Cars per Day) and West Iles Avenue (13,800 Cars per Day).
  • Central Location Less than 15-Minute Commute to Downtown Springfield, Abraham Lincoln Airport, and The University of Illinois Springfield.
  • Over $126,000 Annual Household Income in Immediate Proximity to Site.

Investment Overview

Every day, more than 11 million guests visit Burger King restaurants around the world. Founded in 1954, the Burger King brand is the second-largest fast food hamburger chain in the world. The original Home of the Whopper, the Burger King system operates more than 18,700 locations in more than 100 countries and U.S. territories. Almost 100 percent of Burger King restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. Carrols is one of the largest restaurant franchisees in the United States. It is the largest Burger King franchisee in the U.S., currently operating 1,029 Burger King restaurants in 23 states as well as 65 Popeyes restaurants in seven states. Carrols has operated Burger King restaurants since 1976 and Popeyes restaurants since 2019. Springfield is the capital of Illinois and the county seat of Sangamon County. The city is the state’s sixth most-populous city, the second largest outside of the Chicago metropolitan area, and the largest in central Illinois. As of the 2020 census, the city’s population was 114,394 with approximately 208,000 residents living in the Springfield metropolitan area. Springfield is situated about 100 miles northeast of St. Louis, Missouri, and some 185 miles southwest of Chicago.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

Financing By

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