Burger King
South Boston, VA
Key Details
| Price: | $1,746,661 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $113,533 |
| Address: | 1005 Bill Tuck Highway, South Boston, Virginia 24592 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 9/25/2015 |
| Lease Expiration: | 9/30/2035 |
| Lease Term Remaining: | 10.9 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 1.09 Acres |
| Building Size: | 3,472 SF |
| Year Built: | 1992 |
NNN Pro is pleased to present the exclusive listing for a Burger King located at 1005 Bill Tuck Highway, South Boston, Virginia 24592. The site consists of roughly 3472 rentable square feet of building space on an estimated 1.09-acre parcel of land. This Burger King is subject to a 20-year Triple Net (NNN) lease, which commenced 9/25/2015. The current annual rent is $113,533 and has scheduled increases of 2.00% Annually.
About the Investment
- Long Term Lease | 12.5 Years Remaining on an Original 20-Year Lease
- Triple Net (NNN) Lease with Zero Landlord Responsibilities
- Carrols Restaurant Group, one of the Largest Restaurant Companies and Franchisee’s in the United States
- Attractive Rental Increases of 2.00% Annually
- Four (4) Tenant Renewal Periods of Five (5) Years Each
Key Details
| Price: | $1,746,661 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $113,533 |
| Address: | 1005 Bill Tuck Highway, South Boston, Virginia 24592 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 9/25/2015 |
| Lease Expiration: | 9/30/2035 |
| Lease Term Remaining: | 10.9 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 1.09 Acres |
| Building Size: | 3,472 SF |
| Year Built: | 1992 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Anthony Bird
abird@nnnpro.com
License: NY: 10401306066
Broker of Record
Brian Brockman
Bang Realty, Inc
License: 225245999
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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.