Restaurant

Burger King Atascadero

8304 El Camino Real, Atascadero, CA 93422

Listing Price: $1,490,600

Cap Rate
4.00%
Tenant Name
Burger King
Years Remaining On Lease
12.10
Guarantor
Regional Franchisee
Rentable SF
2,800
Lease Type
Absolute Net
Rent Per Square Feet
$21.29

Investment Overview

Marcus & Millichap is pleased to present a coastal California absolute NNN Fee-Simple Burger King opportunity on the high traffic corridor of El Camino Real in the City of Atascadero, California. 8304 El Camino Real presents investors with a long term leased absolute NNN Burger King drive-thru guaranteed by a 140+ Unit franchisee California Food Management, LLC. The “essential use” operator has over 13 years remaining on their initial 20 year term with favorable 10 percent increases every five years through the term and options. The tenant is currently paying 40 percent below market rent. The site benefits from over 20,000 cars per day on the substantial retail corridor for the area and over 155 feet of frontage along El Camino Real which runs parallel with immediate access to the United States 101 Highway with over 65,500 cars per day. Demographics of over 34,000 people and average household income of over $96,000 in a five mile radius. Situated on a signalized outparcel to a shopping center anchored by essential uses Food4Less, CVS and Goodwill. Other surrounding tenants include Smart & Final, Walgreens, Ace Hardware, US Bank, AutoZone, Chase Bank, Shell, 7-Eleven, Motel 6 and Jiffy Lube.

Investment Highlights

  • Over 13 Years Remaining on Absolute NNN Fee-Simple Lease –Zero Landlord Responsibilities
  • Essential Use – Pandemic & Recession Proof
  • Attractive 10 percent Increases Every Five Years – Hedge Against Inflation with Below Market Rent $1.77 /Square Foot Monthly
  • Strong 140+ Unit Franchisee Guarantee California Food Management, LLC – All 140+ Units on Guarantee
  • Excellent 1031 Exchange Property – Low Price Point
  • Excellent Visibility on Hwy 101 and El Camino Real with Ideal Access, Drive-Thru use for Primary Retail Corridor of Atascadero, California
  • Average Household Income Over $96,000 in a Five Mile Radius

Exclusively Listed By

Listing Price: $1,490,600

Cap Rate
4.00%
Tenant Name
Burger King
Years Remaining On Lease
12.10
Guarantor
Regional Franchisee
Rentable SF
2,800
Lease Type
Absolute Net
Rent Per Square Feet
$21.29

Investment Highlights

  • Over 13 Years Remaining on Absolute NNN Fee-Simple Lease –Zero Landlord Responsibilities
  • Essential Use – Pandemic & Recession Proof
  • Attractive 10 percent Increases Every Five Years – Hedge Against Inflation with Below Market Rent $1.77 /Square Foot Monthly
  • Strong 140+ Unit Franchisee Guarantee California Food Management, LLC – All 140+ Units on Guarantee
  • Excellent 1031 Exchange Property – Low Price Point
  • Excellent Visibility on Hwy 101 and El Camino Real with Ideal Access, Drive-Thru use for Primary Retail Corridor of Atascadero, California
  • Average Household Income Over $96,000 in a Five Mile Radius

Investment Overview

Marcus & Millichap is pleased to present a coastal California absolute NNN Fee-Simple Burger King opportunity on the high traffic corridor of El Camino Real in the City of Atascadero, California. 8304 El Camino Real presents investors with a long term leased absolute NNN Burger King drive-thru guaranteed by a 140+ Unit franchisee California Food Management, LLC. The “essential use” operator has over 13 years remaining on their initial 20 year term with favorable 10 percent increases every five years through the term and options. The tenant is currently paying 40 percent below market rent. The site benefits from over 20,000 cars per day on the substantial retail corridor for the area and over 155 feet of frontage along El Camino Real which runs parallel with immediate access to the United States 101 Highway with over 65,500 cars per day. Demographics of over 34,000 people and average household income of over $96,000 in a five mile radius. Situated on a signalized outparcel to a shopping center anchored by essential uses Food4Less, CVS and Goodwill. Other surrounding tenants include Smart & Final, Walgreens, Ace Hardware, US Bank, AutoZone, Chase Bank, Shell, 7-Eleven, Motel 6 and Jiffy Lube.

Exclusively Listed By

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