Burger King

Gurley, AL

Key Details

Price:$2,508,397
Cap Rate:5.75%
Annual Rent:$144,233
Address:5960 Highway 72 East, Gurley, Alabama 35748
Property Type:Retail
Lease Type:Triple Net (NNN)

Property Data

Original Lease Term:26 Years
Lease Commencement:10/30/2018
Lease Expiration:3/31/2045
Lease Term Remaining:20 Years
Rental Increases:1.00% Annually
Lot Size:2.40 Acres
Building Size:2,640 SF
NNN Pro is pleased to present the exclusive listing for a Burger King located at 5960 Highway 72 East, Gurley, Alabama 35748. The site consists of roughly 2640 rentable square feet of building space on an estimated 2.4-acre parcel of land. This Burger King is subject to a 26-year Triple Net (NNN) lease, which commenced 10/30/2018. The current annual rent is $144,233 and has scheduled increases of 1.00% Annually.

About the Investment

  • Recently Extended NNN Lease | The tenant recently extended their lease through 3/31/2045, signaling their long-term commitment to the site. With a new 20-year term absolute triple net (NNN) lease term, the subject property offers investors long-term passive income.
  • Rare Corporate Guarantee | Restaurant Brands International (NYSE: QSR) is one of the world's largest quick service restaurant companies, currently owning over 7,000 Burger King Restaurants. RBI has no ability to be relieved of this lease obligation in an assignment, showing the strength of this guarantee.
  • Affluent Area | The subject property benefits from being located in an affluent area with the average household income almost eclipsing $155,000 within a five-mile radius.
  • Strong Real Estate Fundamentals | The subject property is located about 20 minutes outside Huntsville, AL, which is the most populous city in the state and an aerospace, technology, and engineering center in the region. Furthermore, there are over 73,000 individuals residing within a ten-mile radius of the subject property.

Talk to the Pros

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Glen Kunofsky

gkunofsky@nnnpro.com
License: NY: 49KU1129178
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Matthew Anuszkiewicz

manuszkiewicz@nnnpro.com
License: NY: 10401294046
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Patrick Finn

pfinn@nnnpro.com
License: NY: 10301222858

Broker of Record

Brian Brockman

Bang Realty-Alabama, Inc
License: 119315
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.