Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Burger King in Haleyville, Alabama. The property consists of a 2,736-square foot building on a 0.60-acre lot. The single-tenant building sits directly across the street from a Walmart Supercenter. The property is subject to an absolute triple-net lease with zero landlord responsibilities. There are 11 years remaining on the lease term and the tenant has four, 5-year renewal options. The tenant, Nashville Quality, LLC, is a wholly owned subsidiary of Carrols Restaurant Group, Inc. which operates over 1,000 restaurants under the Burger King and Popeyes brands. Shares of Carrols Restaurant Group, Inc. are traded on the Nasdaq stock exchange under the ticker symbol TAST. Haleyville is located in Winston County in northwestern Alabama approximately 60 miles south of the Quad-Cities area, 90 miles northwest of Birmingham, and 75 miles north of Tuscaloosa. Haleyville has a population of roughly 4,100 people. Priced at $2,350,000, the Burger King in Haleyville can be purchased at a 5.95% cap rate on current net operating income. There is a 10% rental increase in May 2024, which will increase the cap rate to 6.55%.