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BURGER KING GROUND LEASE, Jackson, MS

BURGER KING GROUND LEASE

Price $1,216,000
Cap Rate 5.00%
NOI $60,762
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 .91 Acres (37,600 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
» Leased to GPS Hospitality, one of the largest Burger King/QSR franchisees, which operates over 400 family-friendly restaurants in 11 states
» 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 drive-thru for extra customer convience

EASILY ACCESSIBLE HIGH-TRAFFIC LOCATION IN POPULOUS AND GROWING AREA
» 107,257 residents within a five-mile radius of the property
» 23,000 AADT directly in front of the location along Ellis Avenue
» Accessible from U.S. Highway 80 (22,000 AADT), and within two miles of Interstate 220 and Interstate 20 (combined 160,000 AADT), attracting significant commuter traffic to the site
» Projected 15 percent AHI increase within five miles of the site in the next five years, poising Jackson for significant growth
» Three miles from Downtown Jackson, increasing visibility to the location

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Two miles from Jackson State University (9,811 students, 1,608 employees), attracting college students and visitors to the site
» Less than five miles from Baptist Medical Center (446 beds, 3,500 employees, $1.7 billion generated in total patient revenue)
» Two miles from the Jackson Zoological Park, which attracts 170,000 annual visitors
» Surrounded by McDonald’s, Wendy’s, Wingstop, Popeyes, Dairy Queen, Pizza Hut, and many more national tenants in a densely populated retail corridor
» Central location in the Jackson County School District and within five miles of 15 schools with combined enrollment of 8,260 students



Property Description

The property is at an easily accessible location along Ellis Avenue (23,000 AADT), with interparcel access from U.S. Highway 80 (22,000 AADT), a prominent east-west thoroughfare traversing the entirety of Mississippi. The site is also within two miles of Interstate 220 and Interstate 20 (combined 160,000 AADT), attracting significant commuter traffic to the site. The property benefits from its central location in a populous and growing area, with 107,257 residents living within a five-mile radius of the location. The property is primed to grow along with the surrounding area, with a projected 15 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 two miles from Jackson State University, which has 9,811 students and 1,608 employees. Traffic to the site is increased by its proximity to a strong mix of well-established national retailers, including McDonald’s, Wendy’s, Wingstop, Popeyes, Dairy Queen, Pizza Hut, and many more. The site experiences increased traffic from its location in the Jackson County School District, as the property resides within five miles of 15 schools, and has a combined enrollment of 8,260 students. The property is also four-and-a-half miles from Baptist Medical Center (446 beds, 3,500 employees, $1.7 billion generated in total patient revenue) and three miles from Downtown Jackson, both of which increase traffic to the site.

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