BURGER KING GROUND LEASE
| Price | $1,551,000 |
| Cap Rate | 5.15% |
| NOI | $79,480 |
| 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 | 8% rental increases every five (5) years |
| Year Built | 2019 |
| Building Size | 3,000 SF |
| Lot Size | 1.1 acres (47,916 SF) |
| Status | Available |
| Lead Broker Information | Michael T. Yuras, CCIM Executive Managing Director 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 GROUND LEASE TO NATIONAL TENANT 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 next 10 years
» Burger King operates more than 17,700 locations worldwide
» 2019 construction with a dual-lane drive-thru for extra customer convience
EASILY ACCESSIBLE LOCATION IN POPULOUS AND AFFLUENT AREA
» 52,701 residents within a 10-mile radius of the property with an average household income of $97,192
» Visibility from Interstate 55 (32,000 AADT), attracting commuter traffic to the site
» 15,000 AADT directly in front of the location along West Peace Street
» Projected 20 percent AHI increase within three miles of the site in the next five years, poising Canton for explosive growth
» Convenient access to Downtown Canton, increasing visibility to the location
CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Five miles from the largest employer in Canton and second largest employer in Mississippi, Nissan North America (6,400 employees)
» Located in a densely populated retail area and neighbored by McDonald’s, Wendy’s, Shell, Popeyes, Sonic Drive-In, and Pizza Hut amongst other well-known retailers
» Within five miles of Canton High School (838 students), McNeal Elementary School (562 students), Canton Elementary School (427 students), and Nichols Middle School (369 students)
» Within walking distance of eight hotels, increasing foot traffic to the site
Property Description
The property has an easily accessible location along West Peace Street (Mississippi Highway 22), a prominent east-west Mississippi thoroughfare serving Madison County. The location maintains excellent visibility and access to 20,000 vehicles per day directly in front of the property. The site is also visible from nearby Interstate 55, which experiences a high traffic count of 32,000 AADT. The property benefits from its central location in a highly populated and affluent area, with 52,701 residents with an average household income of $97,192 living within a ten-mile radius of the location. The property is primed to grow along with the surrounding area, with a projected 20 percent average annual household income increase within three miles of the site in the next five years.
The site benefits from its location near large employers, retailers, and community hubs. The property is five miles from the largest employer in Canton and second largest employer in Mississippi, Nissan North America (6,400 employees). Traffic to the site is increased by its proximity to a strong mix of well-established national retailers, including McDonald’s, Wendy’s, Walmart Supercenter, Shell, Popeyes, Sonic Drive-In, Pizza Hut, and many more. The site experiences increased traffic from its location in the Canton School District, as the property resides within five miles of Canton High School (838 students), McNeal Elementary School (562 students), Canton Elementary School (427 students), and Nichols Middle School (369 students). The property is also within walking distance of eight hotels, increasing foot traffic to the site.
