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Restaurant

Burger King

1309 E 7th St, Atlantic, IA 50022

Listing Price: $1,590,459

Cap Rate
6.85%
Tenant Name
Burger King
Years Remaining On Lease
2.1
Gross SF
3,736
Guarantor
Corporate Guarantee
Rentable SF
3,736
Price/Gross SF
$425.71
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.17

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in 1309 East Seventh Street (the Property), a 3,736-square-foot drive-through restaurant in Atlantic, IA, in which Burger King has over two years remaining on their triple-net lease. Burger King has operated this rare company-owned restaurant for over 15 years and has 1.5 percent annual rent increases in both the firm term and two 5-year renewal options to offset inflation.

This 1.01-acre lot is strategically located on U.S. Highway 6 a half-mile from the intersection with U.S. Highway 71 and within seven miles of Interstate 80. The Property is directly across from a Tractor Supply Co. and blocks from Cass County Memorial Hospital, a Hy-Vee supermarket and a Walmart Supercenter. Atlantic Senior High School and Nishna Golf Club are located directly south, and Washington Elementary School and Schuler Elementary School are southwest of the Property.

Atlantic, IA, sits 57.9 miles east of Omaha, NE, and 75.4 miles west of Des Moines, IA, on the Nishnabotna River, and is home to Atlantic Coca- Cola Bottling Company and a Mahle Engine Components plating plant. This offering presents the unique opportunity to acquire a corporate-operated restaurant in a highly visible and easily accessible area that boasts a variety of retail options catering to the area’s residents and those traveling along U.S. Highway 6.

Investment Highlights

  • Corporately Guaranteed NNN Lease — Zero Landlord Responsibilities
  • Annual 1.5 Percent Rent Increases in Firm Term and Two 5-Year Options
  • On U.S. Highway 6 Near Walmart Supercenter and Cass County Memorial Hospital
  • Impressive Demographics — Average Household Income of $70,432 Within a Three-Mile Radius
  • City's Annual Coca-Cola Days Is Country's Second-Largest Coke Collector Event
  • Located Within Four Blocks of the Iowa Interstate Railroad (Class II) and Within 61 Miles of Eppley Airfield (OMA)
  • Nearby Retail Includes Tractor Supply Co., Casey's, McDonald's, Hy-Vee Supermarket, Subway and Dollar General

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Restaurant

Burger King

Listing Price: $1,590,459

Cap Rate
6.85%
Tenant Name
Burger King
Years Remaining On Lease
2.1
Gross SF
3,736
Guarantor
Corporate Guarantee
Rentable SF
3,736
Price/Gross SF
$425.71
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.17

Investment Highlights

  • Corporately Guaranteed NNN Lease — Zero Landlord Responsibilities
  • Annual 1.5 Percent Rent Increases in Firm Term and Two 5-Year Options
  • On U.S. Highway 6 Near Walmart Supercenter and Cass County Memorial Hospital
  • Impressive Demographics — Average Household Income of $70,432 Within a Three-Mile Radius
  • City's Annual Coca-Cola Days Is Country's Second-Largest Coke Collector Event
  • Located Within Four Blocks of the Iowa Interstate Railroad (Class II) and Within 61 Miles of Eppley Airfield (OMA)
  • Nearby Retail Includes Tractor Supply Co., Casey's, McDonald's, Hy-Vee Supermarket, Subway and Dollar General

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in 1309 East Seventh Street (the Property), a 3,736-square-foot drive-through restaurant in Atlantic, IA, in which Burger King has over two years remaining on their triple-net lease. Burger King has operated this rare company-owned restaurant for over 15 years and has 1.5 percent annual rent increases in both the firm term and two 5-year renewal options to offset inflation. This 1.01-acre lot is strategically located on U.S. Highway 6 a half-mile from the intersection with U.S. Highway 71 and within seven miles of Interstate 80. The Property is directly across from a Tractor Supply Co. and blocks from Cass County Memorial Hospital, a Hy-Vee supermarket and a Walmart Supercenter. Atlantic Senior High School and Nishna Golf Club are located directly south, and Washington Elementary School and Schuler Elementary School are southwest of the Property. Atlantic, IA, sits 57.9 miles east of Omaha, NE, and 75.4 miles west of Des Moines, IA, on the Nishnabotna River, and is home to Atlantic Coca- Cola Bottling Company and a Mahle Engine Components plating plant. This offering presents the unique opportunity to acquire a corporate-operated restaurant in a highly visible and easily accessible area that boasts a variety of retail options catering to the area’s residents and those traveling along U.S. Highway 6.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

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