Restaurant
Burger King
3690 SW Topeka Blvd, Topeka, KS 66611
Listing Price: $2,804,000
Cap Rate
5.75%
Tenant Name
Burger King
Years Remaining On Lease
12.6
Gross SF
2,800
Guarantor
Franchisee Guarantee
Rentable SF
2,800
Price/Gross SF
$1,001.43
Lease Type
Absolute Net
Rent Per Square Feet
$57.59
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale a Burger King in Topeka, Kansas.
Burger King
Investment Highlights
- 12+ Years remaining on an absolute triple-net lease (NNN) with an upcoming 7.50% rent increase in 2027. The lease features zero landlord responsibilities and four five-year renewal options.
- In 2017, the original building was scraped and replaced with the latest prototype Burger King restaurant. The tenant executed a new 20-year lease once construction was complete.
- In 2023, Kansas King took over as the tenant, they're an experienced regional Burger King Franchisee who operates 36 locations.
- The subject property is situated at the signalized intersection of SW 37th St & SW Topeka Blvd, which sees a combined 31,000+ VPD. The property is accessible along 37th St and Topeka Blvd. The intersection is half a mile north of the Kansas Turnpike (I-470) which connects southern Topeka to I-70.
- The subject property lies within an industrial and retail corridor surrounded by residential neighborhoods. 51,787 households are within a 5-mile radius of the subject property.
- Topeka is the capital city of Kansas and county seat of Shawnee County. With a population of 127,680, it is the 5th largest city in the state.
Broker of Record
Listing Price: $2,804,000
Cap Rate
5.75%
Tenant Name
Burger King
Years Remaining On Lease
12.6
Gross SF
2,800
Guarantor
Franchisee Guarantee
Rentable SF
2,800
Price/Gross SF
$1,001.43
Lease Type
Absolute Net
Rent Per Square Feet
$57.59
Investment Highlights
- 12+ Years remaining on an absolute triple-net lease (NNN) with an upcoming 7.50% rent increase in 2027. The lease features zero landlord responsibilities and four five-year renewal options.
- In 2017, the original building was scraped and replaced with the latest prototype Burger King restaurant. The tenant executed a new 20-year lease once construction was complete.
- In 2023, Kansas King took over as the tenant, they're an experienced regional Burger King Franchisee who operates 36 locations.
- The subject property is situated at the signalized intersection of SW 37th St & SW Topeka Blvd, which sees a combined 31,000+ VPD. The property is accessible along 37th St and Topeka Blvd. The intersection is half a mile north of the Kansas Turnpike (I-470) which connects southern Topeka to I-70.
- The subject property lies within an industrial and retail corridor surrounded by residential neighborhoods. 51,787 households are within a 5-mile radius of the subject property.
- Topeka is the capital city of Kansas and county seat of Shawnee County. With a population of 127,680, it is the 5th largest city in the state.
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale a Burger King in Topeka, Kansas.
Broker of Record
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