Skip to main content

Restaurant

Burger King (Carrols Corp)

1817 N Garnett St, Henderson, NC 27536

Listing Price: $2,600,000

Cap Rate
4.76%
Tenant Name
Burger King (Carrols Corp)
Years Remaining On Lease
12.7
Guarantor
Franchisee Guarantee
Rentable SF
2,321
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$53.32

Investment Overview

Marcus & Millichap is pleased to present for sale this single-tenant, absolute triple-net Burger King restaurant opportunity located in Henderson, North Carolina. The property consists of 1.52 acre of land improved with a 2,321-square foot building. The recently remodeled restaurant has nearly 13 years remaining of the original 20-year lease with Carrols Corporation, the largest franchisee in the Burger King system. Annual base rent is set at $123,750 with 10 percent rental increases every five years, as well as in four 5-year option periods. The restaurant is located on a direct exit to I-85, the foremost Interstate in the region connecting Atlanta, Charlotte, Raleigh, and Richmond, VA. The site also benefits from outstanding visibility and excellent access with two points of ingress/egress on a signalized intersection along Parham Road and Garnett Street. Traffic counts are over 16,000 vehicles per day at the intersection. Burger King has been a long-time tenant at this location with an established historical presence of more than 30 years. The restaurant enjoys above average sales due in part to its strategic location directly off exit 215. Nearby retailers include Subway, Dollar General, Food Lion, Econo Lodge, Speedway, Shell, and Citgo among numerous others.

Investment Highlights

  • Carrols Corporate Guarantee
  • Established Historical Presence
  • Directly off Interstate 85

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Restaurant

Burger King (Carrols Corp)

Listing Price: $2,600,000

Cap Rate
4.76%
Tenant Name
Burger King (Carrols Corp)
Years Remaining On Lease
12.7
Guarantor
Franchisee Guarantee
Rentable SF
2,321
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$53.32

Investment Highlights

  • Carrols Corporate Guarantee
  • Established Historical Presence
  • Directly off Interstate 85

Investment Overview

Marcus & Millichap is pleased to present for sale this single-tenant, absolute triple-net Burger King restaurant opportunity located in Henderson, North Carolina. The property consists of 1.52 acre of land improved with a 2,321-square foot building. The recently remodeled restaurant has nearly 13 years remaining of the original 20-year lease with Carrols Corporation, the largest franchisee in the Burger King system. Annual base rent is set at $123,750 with 10 percent rental increases every five years, as well as in four 5-year option periods. The restaurant is located on a direct exit to I-85, the foremost Interstate in the region connecting Atlanta, Charlotte, Raleigh, and Richmond, VA. The site also benefits from outstanding visibility and excellent access with two points of ingress/egress on a signalized intersection along Parham Road and Garnett Street. Traffic counts are over 16,000 vehicles per day at the intersection. Burger King has been a long-time tenant at this location with an established historical presence of more than 30 years. The restaurant enjoys above average sales due in part to its strategic location directly off exit 215. Nearby retailers include Subway, Dollar General, Food Lion, Econo Lodge, Speedway, Shell, and Citgo among numerous others.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

MM Texture Background
MM Textured Background Lower