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Burger King, Haddon Township, NJ

Burger King

Haddon Township, NJ

Price $3,100,000
Cap Rate 5.00%
NOI $155,000
Lease Term 20 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2020
Building Size 2,890 SF
Lot Size .90 Acres (39,204 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

20-YEAR ABSOLUTE NNN LEASE WITH STRONG FINANCIALS
» Leased to iconic tenant with brand recognition as the world’s second largest fast food hamburger chain
» Burger King’s annual revenue exceeds $1.65 billion
» Restaurant Brands International plans to open 40,000 stores within the next 10 years
» Burger King operates more than 17,000 locations worldwide
» Double drive-thru for added customer convenience

INFILL LOCATION IN POPULOUS AND AFFLUENT AREA
» 337,487 residents within a five-mile radius of the property, establishing an extremely large customer base for the site
» 18,504 AADT directly in front of the location along West Cuthbert Boulevard
» Located in a robustly affluent area, with an average annual household income of $110,748 within a one-mile radius of the site
» Projected 10 percent average household income increase within one mile of the site in the next five years
» Convenient access to Downtown Philadelphia and Camden

CENTRAL LOCATION NEAR SEVERAL SCHOOLS, RECREATION AREAS AND COMMUNITY HUBS
» Within walking distance of seven schools with a total enrollment of 3,059 students
» Less than a minute from Westmont plaza featuring Target, Dollar Tree, Starbucks, Rite Aid, UPS Store, and Wells Fargo in dense retail corridor
» Within minutes of several recreational areas including Newton Lake Park, Cooper River Park, and Recchino FIelds



Property Description

The property has an easily accessible location along West Cuthbert Boulevard, a prominent north-south retail centric thoroughfare in Haddon Township. The location maintains excellent visibility and access to 18,504 vehicles per day directly in front of the property. The property is located in a densely populated and affluent area, with 337,487 residents living within a five-mile radius of the site and an average annual household income of $110,748 within one mile of the site. The property is primed to grow along with the surrounding area, with a projected 10 percent average annual household income increase within one mile of the site in the next five years.

The site benefits from its location near numerous schools, retailers, and community hubs. The property is less than a minute from Westmont Plaza featuring Target, Dollar Tree, Starbucks, Rite Aid, UPS Store, and Wells Fargo in Haddon Township’s densest retail corridor. The site experiences increased foot traffic, as the property resided within walking distance of seven schools with a total enrollment of 3,059 students. The property is also within walking distance of eight hotels, increasing traffic to the site. Lastly, the property is surrounded by several recreation areas.

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