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Restaurant

Burger King

1698 Main St, Chipley, FL 32428

Listing Price: $3,939,000

Cap Rate
5.50%
Tenant Name
Burger King
Years Remaining On Lease
18.9
Gross SF
6,827
Guarantor
Franchisee Guarantee
Rentable SF
6,827
Price/Gross SF
$576.97
Lease Type
Absolute Net
Rent Per Square Feet
$31.71

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS Large 2.33-acre parcel Unused area to allow for addition of designated diesel canopy for 18-wheelers Flat topography with strong visibility along Main Street (±15,600 VPD) Located at signalized 4-way intersection Multiple points of ingress and egress Interstation location directly north of I-10 Last food and gas option prior to on-ramp Recent property improvements include new roof, resealed and striped parking lot, renovation to latest Burger King prototype Tenant investment of ±$250,000 towards HVACs and interior remodel OPTIMAL LEASE STRUCTURE Absolute NNN lease – no LL responsibilities 19+ years of term 4, 5-year renewal options 7.5% rent bumps every 5 years Strong tenant and guarantor (±80 units) Gas station & c-store subleased to CrossAmerica Partners Lowers overall occupancy costs and drives additional traffic to site New Tesla Superchargers to be installed on site – 8 total BEST-IN-CLASS QSR TENANT #7 largest fast-food chain in the US #3 largest fast-food burger chain in the US Ranked by US systemwide sales – $10.03 billion (2021 – corporate) 18,700+ locations throughout 100 countries (corporate) ABOUT THE OPERATOR Preferred territories span Central & South Georgia and North & South Florida Management Team includes professional background covering management, finance, accounting & QSR operations HQ is in Destin, FL (76 miles from the subject property) Franchisee is owned/backed by Union Capital PE firm focused on small and mid-sized founder-led businesses

Investment Highlights

  • 19-YEAR NNN LEASE | 7.5% RENT BUMPS EVERY 5 YRS
  • LARGE FRANCHISEE
  • RECENT TENANT UPGRADES

Exclusively Listed By

  • Jared M. Kaye

    First Vice President Investments

    (678) 808-2821

    Email Jared

    License(s): GA: 348701, FL: SL3224428, SC: 129648, NV: S.0198902

    Atlanta

  • Sonny Molloy

    Senior Managing Director Investments

    (678) 808-2763

    Email Sonny

    License(s): GA: 249161, NC: 262596

    Atlanta

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Restaurant

Burger King

Listing Price: $3,939,000

Cap Rate
5.50%
Tenant Name
Burger King
Years Remaining On Lease
18.9
Gross SF
6,827
Guarantor
Franchisee Guarantee
Rentable SF
6,827
Price/Gross SF
$576.97
Lease Type
Absolute Net
Rent Per Square Feet
$31.71

Investment Highlights

  • 19-YEAR NNN LEASE | 7.5% RENT BUMPS EVERY 5 YRS
  • LARGE FRANCHISEE
  • RECENT TENANT UPGRADES

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS Large 2.33-acre parcel Unused area to allow for addition of designated diesel canopy for 18-wheelers Flat topography with strong visibility along Main Street (±15,600 VPD) Located at signalized 4-way intersection Multiple points of ingress and egress Interstation location directly north of I-10 Last food and gas option prior to on-ramp Recent property improvements include new roof, resealed and striped parking lot, renovation to latest Burger King prototype Tenant investment of ±$250,000 towards HVACs and interior remodel OPTIMAL LEASE STRUCTURE Absolute NNN lease – no LL responsibilities 19+ years of term 4, 5-year renewal options 7.5% rent bumps every 5 years Strong tenant and guarantor (±80 units) Gas station & c-store subleased to CrossAmerica Partners Lowers overall occupancy costs and drives additional traffic to site New Tesla Superchargers to be installed on site – 8 total BEST-IN-CLASS QSR TENANT #7 largest fast-food chain in the US #3 largest fast-food burger chain in the US Ranked by US systemwide sales – $10.03 billion (2021 – corporate) 18,700+ locations throughout 100 countries (corporate) ABOUT THE OPERATOR Preferred territories span Central & South Georgia and North & South Florida Management Team includes professional background covering management, finance, accounting & QSR operations HQ is in Destin, FL (76 miles from the subject property) Franchisee is owned/backed by Union Capital PE firm focused on small and mid-sized founder-led businesses

Exclusively Listed By

  • Jared M. Kaye

    First Vice President Investments

    (678) 808-2821

    Email Jared

    License(s): GA: 348701, FL: SL3224428, SC: 129648, NV: S.0198902

    Atlanta

  • Sonny Molloy

    Senior Managing Director Investments

    (678) 808-2763

    Email Sonny

    License(s): GA: 249161, NC: 262596

    Atlanta

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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