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Restaurant

Burger King

996 Coshocton Ave, Mount Vernon, OH 43050

Listing Price: $2,699,572

Cap Rate
5.50%
Tenant Name
Carrols, LLC
Years Remaining On Lease
19.9
Guarantor
Franchisee Guarantee
Rentable SF
1,678
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$88.48

Investment Overview

Marcus & Millichap is pleased to present this exclusive listing for a Burger King located at 996 Coshocton Avenue in Mt. Vernon, OH. Scheduled to open in late December, the subject property will consist of roughly 1,678 square feet of building space on approximately a 0.30-acre parcel. This investment opportunity is subject to a brand new 20-year triple-net (NNN) sale-leaseback with zero landlord responsibilities. The lease will commence upon the close of escrow and will be subject to six (6), five (5) year tenant renewal options. The initial annual rent will be $148,476 and is scheduled to increase by one percent (1.00%) annually starting in year 11 and continuing throughout the base term and option periods. In each option period the rent will increase by one percent (1.00%) annually in years 1 through 3 and the rent will remain flat in years 4 and 5.

Investment Highlights

  • Under Construction | Estimated Opening 12/23/2021!
  • Brand New 20-Year Sale-Leaseback
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

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

    Manhattan

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Listing Price: $2,699,572

Cap Rate
5.50%
Tenant Name
Carrols, LLC
Years Remaining On Lease
19.9
Guarantor
Franchisee Guarantee
Rentable SF
1,678
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$88.48

Investment Highlights

  • Under Construction | Estimated Opening 12/23/2021!
  • Brand New 20-Year Sale-Leaseback
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities

Investment Overview

Marcus & Millichap is pleased to present this exclusive listing for a Burger King located at 996 Coshocton Avenue in Mt. Vernon, OH. Scheduled to open in late December, the subject property will consist of roughly 1,678 square feet of building space on approximately a 0.30-acre parcel. This investment opportunity is subject to a brand new 20-year triple-net (NNN) sale-leaseback with zero landlord responsibilities. The lease will commence upon the close of escrow and will be subject to six (6), five (5) year tenant renewal options. The initial annual rent will be $148,476 and is scheduled to increase by one percent (1.00%) annually starting in year 11 and continuing throughout the base term and option periods. In each option period the rent will increase by one percent (1.00%) annually in years 1 through 3 and the rent will remain flat in years 4 and 5.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

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

    Manhattan

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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