Restaurant

Burger King

Listing Price: $1,872,000

Cap Rate
6.25%
Tenant Name
King of Big Beaver, Inc. (dba Burger King)
Years Remaining On Lease
15.30
Guarantor
Franchisee Guarantee
Rentable SF
2,793
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.89

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale a freestanding, triple- net leased, Burger King in Sterling Heights, Michigan. The fast food restaurant building contains a rentable area of 2,793 square feet and is situated on 0.78 acres. This property is an outparcel to Sterling Heights Center, which is anchored by Lowe’s and Target with CVS Pharmacy. It has primary frontage along Metropolitan Parkway, one of the busiest east-west thoroughfares running through Sterling Heights. The property was built in 2007, and the tenant, King of Big Beaver, Inc.(dba Burger King) has committed to renovating / re-imaging the site by May 2025. The tenant also recently exercised their first of four extension options, showing a strong commitment to the site. The lease term now extends through 2035 and is followed by three, five-year options. There are 6% rental increases every three years during the base lease term and options. This NNN investment opportunity has zero landlord responsibility. The lease is corporately guaranteed by Michigan Multi-King, headquartered in Troy, MI. Operating nine locations throughout Michigan, Michigan Multi-King is consistently recognized by Burger King Corporation for its high level of service and excellent performance.

Investment Highlights

  • Exercised First Extension Option Early
  • Committed to Site Renovation / Re-Imaging no Later Than May 2025
  • Fifteen Plus Years Remaining Lease Term
  • Six Percent Rent Increases Every Three Years – Excellent Hedge Against Inflation
  • Top Brand Recognition (#2 Burger Chain in the World)
  • Outparcel to Sterling Heights Center – a 300,000+ Square Foot Retail Center Anchored by Lowe's and Target with CVS Pharmacy
  • Located on Metropolitan Parkway with 50,000+ Vehicles per Day
  • Absolute Triple Net Lease – Zero Landlord Expenses

Exclusively Listed By

Listing Price: $1,872,000

Cap Rate
6.25%
Tenant Name
King of Big Beaver, Inc. (dba Burger King)
Years Remaining On Lease
15.30
Guarantor
Franchisee Guarantee
Rentable SF
2,793
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.89

Investment Highlights

  • Exercised First Extension Option Early
  • Committed to Site Renovation / Re-Imaging no Later Than May 2025
  • Fifteen Plus Years Remaining Lease Term
  • Six Percent Rent Increases Every Three Years – Excellent Hedge Against Inflation
  • Top Brand Recognition (#2 Burger Chain in the World)
  • Outparcel to Sterling Heights Center – a 300,000+ Square Foot Retail Center Anchored by Lowe's and Target with CVS Pharmacy
  • Located on Metropolitan Parkway with 50,000+ Vehicles per Day
  • Absolute Triple Net Lease – Zero Landlord Expenses

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale a freestanding, triple- net leased, Burger King in Sterling Heights, Michigan. The fast food restaurant building contains a rentable area of 2,793 square feet and is situated on 0.78 acres. This property is an outparcel to Sterling Heights Center, which is anchored by Lowe’s and Target with CVS Pharmacy. It has primary frontage along Metropolitan Parkway, one of the busiest east-west thoroughfares running through Sterling Heights. The property was built in 2007, and the tenant, King of Big Beaver, Inc.(dba Burger King) has committed to renovating / re-imaging the site by May 2025. The tenant also recently exercised their first of four extension options, showing a strong commitment to the site. The lease term now extends through 2035 and is followed by three, five-year options. There are 6% rental increases every three years during the base lease term and options. This NNN investment opportunity has zero landlord responsibility. The lease is corporately guaranteed by Michigan Multi-King, headquartered in Troy, MI. Operating nine locations throughout Michigan, Michigan Multi-King is consistently recognized by Burger King Corporation for its high level of service and excellent performance.

Exclusively Listed By

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