Investment Overview

Marcus & Millichap is pleased to present a freestanding Burger King with drive-thru located at 2801 Lincolnway East in Mishawaka, Indiana. The ±3,780-square-foot restaurant, remodeled in 2019, sits on ±1.50 acres and is secured by a new 15-year NNN lease with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $125,798 produces a 6.00% cap rate, with scheduled 10% rent increases every five years providing built-in income growth. The lease is guaranteed by Crown Hospitality Partners, Inc., an experienced 36-unit Burger King franchisee led by career operators with seven decades of combined system experience. The property is positioned along Lincolnway East/SR 933 (±19,504 VPD) near Capital Avenue (±24,443 VPD), connecting Mishawaka, South Bend, and the Indiana Toll Road, with corridor neighbors including Taco Bell, Wendy's, Dunkin', and Dollar General. The 5-mile trade area holds 104,530 residents with an average household income of $93,441, supported by the University of Notre Dame (13,129 students) and Bethel University (1,134 students). The South Bend-Mishawaka MSA supports 326,282 residents with $1 billion in active downtown development. Burger King operates 19,000+ locations in 120+ countries as a flagship brand of Restaurant Brands International (NYSE: QSR), pairing global brand strength with passive net-lease income.