Skip to main content

Restaurant

Burger King

2131 Hwy 41 S, Greenbrier, TN 37073

Listing Price: $1,157,000

Cap Rate
4.75%
Tenant Name
Carrols LLC
Years Remaining On Lease
18.0
Guarantor
Franchisee Guarantee
Rentable SF
3,193
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$17.23

Investment Overview

Marcus & Millichap is pleased to present this exclusive listing for a Burger King located at 2123 US-41 in Greenbrier, Tennessee. The subject property was built in 2019 and consists of roughly 3,193 square feet of building space on approximately a 0.96-acre parcel. This investment opportunity was subject to a brand new 20-year Triple-Net ground lease with zero landlord responsibilities that commenced in 2019. The initial rent is set at $55,000 and is subject to rare 10%rental escalations every five years. In addition to the initial 20-year lease, the tenant has four, five-year renewal options. The rent will continue to increase by 10% every five years throughout the renewal options. The entity on the lease is Carrols, LLC, who is the largest Burger King franchisee with over 1,000 locations and is publicly traded under the ticker TAST.

Investment Highlights

  • Brand New Built to Suit Construction in 2019
  • Triple Net Ground Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases of 10 Percent Every Five Years | Rare Increase Structure for Carrols

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Josh Kanter

    Licensed Real Estate Salesperson

    (212) 430-5189

    Email Josh

    License(s): NY: 10401265643

    Manhattan

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Financing By

Listing Price: $1,157,000

Cap Rate
4.75%
Tenant Name
Carrols LLC
Years Remaining On Lease
18.0
Guarantor
Franchisee Guarantee
Rentable SF
3,193
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$17.23

Investment Highlights

  • Brand New Built to Suit Construction in 2019
  • Triple Net Ground Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases of 10 Percent Every Five Years | Rare Increase Structure for Carrols

Investment Overview

Marcus & Millichap is pleased to present this exclusive listing for a Burger King located at 2123 US-41 in Greenbrier, Tennessee. The subject property was built in 2019 and consists of roughly 3,193 square feet of building space on approximately a 0.96-acre parcel. This investment opportunity was subject to a brand new 20-year Triple-Net ground lease with zero landlord responsibilities that commenced in 2019. The initial rent is set at $55,000 and is subject to rare 10%rental escalations every five years. In addition to the initial 20-year lease, the tenant has four, five-year renewal options. The rent will continue to increase by 10% every five years throughout the renewal options. The entity on the lease is Carrols, LLC, who is the largest Burger King franchisee with over 1,000 locations and is publicly traded under the ticker TAST.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Josh Kanter

    Licensed Real Estate Salesperson

    (212) 430-5189

    Email Josh

    License(s): NY: 10401265643

    Manhattan

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

Financing By

MM Texture Background
MM Textured Background Lower