Restaurant

Burger King | Lowe's Outparcel

3541 Memorial Pkwy NW, Huntsville, AL 35810

Listing Price: $2,540,000

Cap Rate
6.00%
Tenant Name
Burger King
Years Remaining On Lease
13.3
Gross SF
3,355
Guarantor
Franchisee Guarantee
Rentable SF
3,355
Price/Gross SF
$757.08
Lease Type
Absolute Net
Rent Per Square Feet
$45.41

Investment Overview

The subject property is a 2017 construction Burger King in Huntsville, AL. The 1.21+/- acre lot is an outparcel to Lowe’s Home Improvement on Memorial Parkway which boast a 38,500 VPD traffic count. This location has operated as Burger King since 1989. The older building was scraped and rebuilt in 2017, showing strong commitment to the location. Its success is further evidenced by the strong store sales. Premier Kings of North Alabama, LLC is signed to a 20-year NNN lease that commenced in April of 2014. The tenant operates 40+/- locations and is a subsidiary of Premier Kings, Inc. which operates close to 200 locations between multiple entities. The landlord friendly lease features fixed 5% rental increases every 5 years. The NNN lease structure provides for no landlord responsibilities or expenses.

Investment Highlights

  • 20-YEAR ABSOLUTE NNN LEASE | 13.5 YEARS REMAINING
  • STRONG STORE SALES | HEALTHY RENT-TO-SALES RATIO
  • OUTPARCEL TO LOWE'S HOME IMPROVEMENT
  • BUILDING SCRAPED AND REBUILT IN 2017 | 30-YEAR OPERATING HISTORY AT THIS LOCATION
  • PREMIER KINGS OF NORTH ALABAMA, LLC OPERATES 40+/- LOCATIONS
  • TENANT IS A SUBSIDIARY OF PREMIER KINGS, INC. WHO OPERATE CLOSE TO 200 LOCATIONS BETWEEN MULTIPLE OPERATING ENTITIES

Exclusively Listed By

  • Robby Pfeiffer

    Senior Vice President Investments

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    License(s): AL: 0000882980

    Alabama

Restaurant

Burger King | Lowe's Outparcel

Listing Price: $2,540,000

Cap Rate
6.00%
Tenant Name
Burger King
Years Remaining On Lease
13.3
Gross SF
3,355
Guarantor
Franchisee Guarantee
Rentable SF
3,355
Price/Gross SF
$757.08
Lease Type
Absolute Net
Rent Per Square Feet
$45.41

Investment Highlights

  • 20-YEAR ABSOLUTE NNN LEASE | 13.5 YEARS REMAINING
  • STRONG STORE SALES | HEALTHY RENT-TO-SALES RATIO
  • OUTPARCEL TO LOWE'S HOME IMPROVEMENT
  • BUILDING SCRAPED AND REBUILT IN 2017 | 30-YEAR OPERATING HISTORY AT THIS LOCATION
  • PREMIER KINGS OF NORTH ALABAMA, LLC OPERATES 40+/- LOCATIONS
  • TENANT IS A SUBSIDIARY OF PREMIER KINGS, INC. WHO OPERATE CLOSE TO 200 LOCATIONS BETWEEN MULTIPLE OPERATING ENTITIES

Investment Overview

The subject property is a 2017 construction Burger King in Huntsville, AL. The 1.21+/- acre lot is an outparcel to Lowe’s Home Improvement on Memorial Parkway which boast a 38,500 VPD traffic count. This location has operated as Burger King since 1989. The older building was scraped and rebuilt in 2017, showing strong commitment to the location. Its success is further evidenced by the strong store sales. Premier Kings of North Alabama, LLC is signed to a 20-year NNN lease that commenced in April of 2014. The tenant operates 40+/- locations and is a subsidiary of Premier Kings, Inc. which operates close to 200 locations between multiple entities. The landlord friendly lease features fixed 5% rental increases every 5 years. The NNN lease structure provides for no landlord responsibilities or expenses.

Exclusively Listed By

  • Robby Pfeiffer

    Senior Vice President Investments

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    License(s): AL: 0000882980

    Alabama

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