Burger King
Centralia, IL
Key Details
| Price: | $1,472,656 |
|---|---|
| Cap Rate: | 6.40% |
| Annual Rent: | $94,250 |
| Address: | 311 North Poplar Street, Centralia, Illinois 62801 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 10 Years |
|---|---|
| Lease Commencement: | 6/1/2024 |
| Lease Expiration: | 5/31/2034 |
| Lease Term Remaining: | 9.2 Years |
| Rental Increases: | 1.00% Annually |
| Lot Size: | 0.88 Acres |
| Building Size: | 3,200 SF |
NNN Pro is pleased to present the exclusive listing for a Burger King located at 311 North Poplar Street, Centralia, Illinois 62801. The site consists of roughly 3200 rentable square feet of building space on an estimated 0.88-acre parcel of land. This Burger King is subject to a 10-year Triple Net (NNN) lease, which commenced 6/1/2024. The current annual rent is $94,250 and has scheduled increases of 1.00% Annually.
About the Investment
- Long-Term, 10-Year Absolute Triple Net (NNN) Lease | Zero landlord responsibilities. Tenant extended current lease in 2023 showing long term commitment to the location.
- Attractive Rental Increases | 1.00% annual rental increases.
- Franchisee Guarantee | Strong franchisee guarantee from Carrols LLC.
Key Details
| Price: | $1,472,656 |
|---|---|
| Cap Rate: | 6.40% |
| Annual Rent: | $94,250 |
| Address: | 311 North Poplar Street, Centralia, Illinois 62801 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 10 Years |
|---|---|
| Lease Commencement: | 6/1/2024 |
| Lease Expiration: | 5/31/2034 |
| Lease Term Remaining: | 9.2 Years |
| Rental Increases: | 1.00% Annually |
| Lot Size: | 0.88 Acres |
| Building Size: | 3,200 SF |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Matthew Anuszkiewicz
manuszkiewicz@nnnpro.com
License: NY: 10401294046
Patrick Finn
pfinn@nnnpro.com
License: NY: 10301222858
Broker of Record
Brian Brockman
Bang Realty-Illinois, Inc
License: 471020548
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.