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Restaurant

Former Burger King

3726 N Illinois St, Indianapolis, IN 46208

Listing Price: $950,000

Cap Rate
11.37%
Tenant Name
Burger King
Years Remaining On Lease
0.5
Gross SF
3,312
Guarantor
Corporate Guarantee
Rentable SF
3,312
Price/Gross SF
$286.84
Lease Type
Absolute Net
Rent Per Square Feet
$32.61

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review the Dark Burger King in Indianapolis, Indiana.

This Dark Burger King location is positioned right off of the 38th Street and N Illinois Street intersection, providing great visibility. 38th Street has almost 32,000 vehicles travel on it per day, and N Illinois Street has over 13,800. The 3,450 square foot building is drive-thru equipped, and is located in a dense retail corridor, giving future opportunity for increased retail traffic. Retail traffic drivers include McDonald’s, Family Dollar, Subway, Tide Cleaners, Dollar General, BP Gas Station, and more.

Although historically a successful sales location, the tenant vacated the property in 2020 with four years left on the lease. Although the tenant no longer occupies the property, they continue to pay monthly rent through November of 2024.

The property is located just over four miles away from Downtown Indianapolis, making it easily accessible, especially since it can be accessed by continuing south on N Illinois Street. There are three universities within a five-mile radius including Butler University, Marian University Indianapolis, & Ivy Tech. The Children’s Museum, located two miles from the property, was recently ranked No.1 on the 2023 USA Today Best Readers’ Choice Travel Award Contest for Best Children’s Museum. The Museum attracts an average of 1.3 million visitors each year. Also located close by are the Indiana State Fairgrounds, which is home to the Indiana State Fair, the Indianapolis Fuel Minor League Hockey Team, as well as over 400 other events bringing in over one million visitors combined.

Investment Highlights

  • 261,931 Population within Five-Mile Radius of Site | Over 45,000 Vehicles Per Day ay the Intersection of 38th and Illinois Street
  • Located in Dense Retail Corridor | Retailers Include McDonald's, Family Dollar, Subway, Tide Cleaners, Dollar General, BP Gas Station, and More
  • Only Four Miles North of the Downtown Indianapolis | Easily Accessible by North Meridian and North Illinois Street
  • In Close Proximity to Numerous Universities Including: Butler University (Over 5,000), Marian University Indianapolis (~3,000), and Ivy Tech Community College Central Indiana Region
  • Located Approximately One Mile Away from the Children's Museum (1.3 Million Visitors Per Year) | Ranked Number One on the 2023 USA Today Best Readers' Choice Travel Award Contest for Best Children's Museum
  • Less then Two Miles from Indiana State Fairgrounds (Over 1 Million Visitors Annually) | Home to the Indiana State Fair (sixth Oldest in the US) | Hosts Over 400 Events per Year

Exclusively Listed By

Restaurant

Former Burger King

Listing Price: $950,000

Cap Rate
11.37%
Tenant Name
Burger King
Years Remaining On Lease
0.5
Gross SF
3,312
Guarantor
Corporate Guarantee
Rentable SF
3,312
Price/Gross SF
$286.84
Lease Type
Absolute Net
Rent Per Square Feet
$32.61

Investment Highlights

  • 261,931 Population within Five-Mile Radius of Site | Over 45,000 Vehicles Per Day ay the Intersection of 38th and Illinois Street
  • Located in Dense Retail Corridor | Retailers Include McDonald's, Family Dollar, Subway, Tide Cleaners, Dollar General, BP Gas Station, and More
  • Only Four Miles North of the Downtown Indianapolis | Easily Accessible by North Meridian and North Illinois Street
  • In Close Proximity to Numerous Universities Including: Butler University (Over 5,000), Marian University Indianapolis (~3,000), and Ivy Tech Community College Central Indiana Region
  • Located Approximately One Mile Away from the Children's Museum (1.3 Million Visitors Per Year) | Ranked Number One on the 2023 USA Today Best Readers' Choice Travel Award Contest for Best Children's Museum
  • Less then Two Miles from Indiana State Fairgrounds (Over 1 Million Visitors Annually) | Home to the Indiana State Fair (sixth Oldest in the US) | Hosts Over 400 Events per Year

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review the Dark Burger King in Indianapolis, Indiana. This Dark Burger King location is positioned right off of the 38th Street and N Illinois Street intersection, providing great visibility. 38th Street has almost 32,000 vehicles travel on it per day, and N Illinois Street has over 13,800. The 3,450 square foot building is drive-thru equipped, and is located in a dense retail corridor, giving future opportunity for increased retail traffic. Retail traffic drivers include McDonald’s, Family Dollar, Subway, Tide Cleaners, Dollar General, BP Gas Station, and more. Although historically a successful sales location, the tenant vacated the property in 2020 with four years left on the lease. Although the tenant no longer occupies the property, they continue to pay monthly rent through November of 2024. The property is located just over four miles away from Downtown Indianapolis, making it easily accessible, especially since it can be accessed by continuing south on N Illinois Street. There are three universities within a five-mile radius including Butler University, Marian University Indianapolis, & Ivy Tech. The Children’s Museum, located two miles from the property, was recently ranked No.1 on the 2023 USA Today Best Readers’ Choice Travel Award Contest for Best Children’s Museum. The Museum attracts an average of 1.3 million visitors each year. Also located close by are the Indiana State Fairgrounds, which is home to the Indiana State Fair, the Indianapolis Fuel Minor League Hockey Team, as well as over 400 other events bringing in over one million visitors combined.

Exclusively Listed By

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