Restaurant

Burger King

3951 New Covington Pike, Memphis, TN 38128

Listing Price: $2,600,000

Cap Rate
5.02%
Tenant Name
Burger King
Years Remaining On Lease
15.0
Gross SF
3,794
Guarantor
Franchisee Guarantee
Rentable SF
3,794
Price/Gross SF
$685.29
Lease Type
Absolute Net
Rent Per Square Feet
$34.40

Investment Overview

Marcus & Millichap is pleased to present a 3,794+\- freestanding Burger King restaurant situated on a 0.93 acre lot in Memphis
(Shelby County), Tennessee. The property is a well-positioned outparcel to a Walmart Supercenter at the corner of
Austin Peay Highway and Covington Pike. Austin Peay Highway experiences average traffic counts of over 36,000 vehicles
daily, providing the subject property with a steady flow of customers. This Burger King also sits adjacent to Methodist North
Hospital, a 246-bed community hospital serving the area for more than 40 years. Additionally, the population within a fivemile
radius of the property is roughly 140,641 people, providing ample customers for this Burger King.
This Burger King is in the heart of a dense retail corridor with major tenants nearby including Walmart, Kroger, Walgreens,
Wendys, Pizza Hut, Popeyes, Circle K, Regions Bank, Goodwill, and more. The city is in the process of a major redevelopment
of the Raleigh Springs Civic Center; just 1.5 miles down Austin Peay Highway. This $42 Million dollar project includes
a police station, library, skatepark, an 11-acre lake with walking trails, and 20 acres of additional retail development.

Investment Highlights

  • Proven & Profitable Location. Outparcel to Super Walmart Shopping Center
  • Absolute Net Lease Investment, No Landlord Responsibility
  • 10% Increases every 5 years. Long-term Tenancy since 1995
  • No State Income Tax in Tennessee
  • Carrols Restaurant Group (NASDAQ: TAST)
  • Largest Burger King Operator in the world with over 1,090 units

Exclusively Listed By

Listing Price: $2,600,000

Cap Rate
5.02%
Tenant Name
Burger King
Years Remaining On Lease
15.0
Gross SF
3,794
Guarantor
Franchisee Guarantee
Rentable SF
3,794
Price/Gross SF
$685.29
Lease Type
Absolute Net
Rent Per Square Feet
$34.40

Investment Highlights

  • Proven & Profitable Location. Outparcel to Super Walmart Shopping Center
  • Absolute Net Lease Investment, No Landlord Responsibility
  • 10% Increases every 5 years. Long-term Tenancy since 1995
  • No State Income Tax in Tennessee
  • Carrols Restaurant Group (NASDAQ: TAST)
  • Largest Burger King Operator in the world with over 1,090 units

Investment Overview

Marcus & Millichap is pleased to present a 3,794+\- freestanding Burger King restaurant situated on a 0.93 acre lot in Memphis
(Shelby County), Tennessee. The property is a well-positioned outparcel to a Walmart Supercenter at the corner of
Austin Peay Highway and Covington Pike. Austin Peay Highway experiences average traffic counts of over 36,000 vehicles
daily, providing the subject property with a steady flow of customers. This Burger King also sits adjacent to Methodist North
Hospital, a 246-bed community hospital serving the area for more than 40 years. Additionally, the population within a fivemile
radius of the property is roughly 140,641 people, providing ample customers for this Burger King.
This Burger King is in the heart of a dense retail corridor with major tenants nearby including Walmart, Kroger, Walgreens,
Wendys, Pizza Hut, Popeyes, Circle K, Regions Bank, Goodwill, and more. The city is in the process of a major redevelopment
of the Raleigh Springs Civic Center; just 1.5 miles down Austin Peay Highway. This $42 Million dollar project includes
a police station, library, skatepark, an 11-acre lake with walking trails, and 20 acres of additional retail development.

Exclusively Listed By

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