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Restaurant

Mr. Happy Burger

3131 E Market St, Logansport, IN 46947

Listing Price: $1,757,989

Cap Rate
5.75%
Tenant Name
Penguin Point Restaurant Group, LLC
Years Remaining On Lease
19.7
Guarantor
Corporate Guarantee
Rentable SF
3,875
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.09

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Mr. Happy Burger located at 3131 E. Market Street in Logansport, IN. The site consists of roughly 3,875 rentable square feet of building space on an estimated 0.32-acre parcel of land. This Mr. Happy Burger is subject to a 20-year absolute triple-net (NNN) lease, which commenced January 27, 2022. The current annual rent is$101,084 and is scheduled to increase by two percent (2.0%) annually beginning February 1, 2030 and continuing throughout the base lease term and each of the four (4), five (5)-year renewal options.

Investment Highlights

  • Brand New Long-Term, 20-Year Absolute Triple Net (NNN) Lease
  • Two Percent (2.0%) Annual Rental Increases Beginning February 2030
  • Long Term Operating History | Mr. Happy Burger Has Operated at This Location For Over 60 Years

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

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Restaurant

Mr. Happy Burger

Listing Price: $1,757,989

Cap Rate
5.75%
Tenant Name
Penguin Point Restaurant Group, LLC
Years Remaining On Lease
19.7
Guarantor
Corporate Guarantee
Rentable SF
3,875
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.09

Investment Highlights

  • Brand New Long-Term, 20-Year Absolute Triple Net (NNN) Lease
  • Two Percent (2.0%) Annual Rental Increases Beginning February 2030
  • Long Term Operating History | Mr. Happy Burger Has Operated at This Location For Over 60 Years

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Mr. Happy Burger located at 3131 E. Market Street in Logansport, IN. The site consists of roughly 3,875 rentable square feet of building space on an estimated 0.32-acre parcel of land. This Mr. Happy Burger is subject to a 20-year absolute triple-net (NNN) lease, which commenced January 27, 2022. The current annual rent is$101,084 and is scheduled to increase by two percent (2.0%) annually beginning February 1, 2030 and continuing throughout the base lease term and each of the four (4), five (5)-year renewal options.

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

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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