Skip to main content

Restaurant

Burger King (Carrols) - Absolute NNN - 11 Years Remaining - 6.55% CAP in May 2024

42425 AL-195, Haleyville, AL 35565

Listing Price: $2,350,000

Cap Rate
5.95%
Tenant Name
Carrols Restaurant Group, Inc.
Years Remaining On Lease
10.9
Guarantor
Corporate Guarantee
Rentable SF
2,736
Lease Type
Absolute Net
Rent Per Square Feet
$51.14

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%.

Investment Highlights

  • Absolute NNN Lease with 11 Years of Term Remaining
  • 10% Rental Increase in 2024
  • Current 5.95% Cap Rate Increases to 6.55% in May 2024
  • Lease Guaranteed by a Wholly Owned Subsidiary of Carrols Restaurant Group, Inc. (NASDAQ: TAST)
  • Directly Across the Street from a Walmart Supercenter

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Restaurant

Burger King (Carrols) - Absolute NNN - 11 Years Remaining - 6.55% CAP in May 2024

Listing Price: $2,350,000

Cap Rate
5.95%
Tenant Name
Carrols Restaurant Group, Inc.
Years Remaining On Lease
10.9
Guarantor
Corporate Guarantee
Rentable SF
2,736
Lease Type
Absolute Net
Rent Per Square Feet
$51.14

Investment Highlights

  • Absolute NNN Lease with 11 Years of Term Remaining
  • 10% Rental Increase in 2024
  • Current 5.95% Cap Rate Increases to 6.55% in May 2024
  • Lease Guaranteed by a Wholly Owned Subsidiary of Carrols Restaurant Group, Inc. (NASDAQ: TAST)
  • Directly Across the Street from a Walmart Supercenter

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%.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

MM Texture Background
MM Textured Background Lower