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Restaurant

Burger King + Food City Gas

11423 Chapman Hwy, Seymour, TN 37865

Listing Price: $3,140,217

Cap Rate
6.00%
Tenant Name
Burger King
Years Remaining On Lease
13.2
Guarantor
Franchisee Guarantee
Rentable SF
3,143
Lease Type
Absolute Net
Rent Per Square Feet
$60.73

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a two-tenant Net Lease deal (the “Property”) in Seymour, Tennessee.
Burger King and Food City Gas ‘N Go are both outparcels to Food City Grocery Store. This Food City location is the 12th best performing location in the nation according to Placer AI, with more than 700,000 annual visits. Both tenants operate under Absolute Net leases providing peace of mind and ease of management for ownership.
Burger King is operated by Carrols Restaurant Group, the number one Burger King Franchisee with more than 1,000 locations under management. Food City Gas ‘N Go is a corporate location – Food City operates more than 130 grocery stores and 115 C-Stores.
Burger King performs extremely well at this location and pays 8.5 percent percentage rent above a natural breakpoint providing significant additional cash flow to ownership.
The Property benefits from it’s location just 20 minutes from Knoxville and is located in Tennessee with zero state income tax.
The Property is offered at a 6.0 percent cap rate totaling $3,140,217.

Investment Highlights

  • 10+ YEARS REMAINING ON ABSOLUTE NET LEASES
  • FOOD CITY CORPORATE GUARANTEE ON GAS 'N GO
  • NUMBER ONE BURGER KING OPERATOR WITH MORE THAN 1,000 LOCATIONS
  • BURGER KING EXCEEDING SALES GOALS AND PAYING PERCENTAGE RENT
  • INCOME TAX FREE STATE - TENNESSEE

Exclusively Listed By

  • Alex Perez

    First Vice President Investments

    (314) 889-2525

    Email Alex

    License(s): MO: 2000163389 , NE: 20230231, IL: 475199830, AL: 000164341 - 0

    St. Louis

  • Chris Garavaglia

    First Vice President Investments

    (314) 889-2552

    Email Chris

    License(s): MO: 2015042068, NE: 20240127

    St. Louis

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s) TN: 307629

    Tennessee

Financing By

Restaurant

Burger King + Food City Gas

Listing Price: $3,140,217

Cap Rate
6.00%
Tenant Name
Burger King
Years Remaining On Lease
13.2
Guarantor
Franchisee Guarantee
Rentable SF
3,143
Lease Type
Absolute Net
Rent Per Square Feet
$60.73

Investment Highlights

  • 10+ YEARS REMAINING ON ABSOLUTE NET LEASES
  • FOOD CITY CORPORATE GUARANTEE ON GAS 'N GO
  • NUMBER ONE BURGER KING OPERATOR WITH MORE THAN 1,000 LOCATIONS
  • BURGER KING EXCEEDING SALES GOALS AND PAYING PERCENTAGE RENT
  • INCOME TAX FREE STATE - TENNESSEE

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a two-tenant Net Lease deal (the “Property”) in Seymour, Tennessee. Burger King and Food City Gas ‘N Go are both outparcels to Food City Grocery Store. This Food City location is the 12th best performing location in the nation according to Placer AI, with more than 700,000 annual visits. Both tenants operate under Absolute Net leases providing peace of mind and ease of management for ownership. Burger King is operated by Carrols Restaurant Group, the number one Burger King Franchisee with more than 1,000 locations under management. Food City Gas ‘N Go is a corporate location – Food City operates more than 130 grocery stores and 115 C-Stores. Burger King performs extremely well at this location and pays 8.5 percent percentage rent above a natural breakpoint providing significant additional cash flow to ownership. The Property benefits from it’s location just 20 minutes from Knoxville and is located in Tennessee with zero state income tax. The Property is offered at a 6.0 percent cap rate totaling $3,140,217.

Exclusively Listed By

  • Alex Perez

    First Vice President Investments

    (314) 889-2525

    Email Alex

    License(s): MO: 2000163389 , NE: 20230231, IL: 475199830, AL: 000164341 - 0

    St. Louis

  • Chris Garavaglia

    First Vice President Investments

    (314) 889-2552

    Email Chris

    License(s): MO: 2015042068, NE: 20240127

    St. Louis

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s): TN: 307629

    Tennessee

Financing By

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