Historical Retail Sale Listing - Burger King (Corp. Lease - January '10 Remodel)

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Burger King (Corp. Lease - January '10 Remodel)

7116 Highway 70 South, Nashville, TN 37221

N/A

2,736 SF | Retail

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January 2010 Remodel

Retail Property - Off Market

Price:
N/A
Building Size:
2,736 SF
Property Type:
Retail
Property Sub-type:
Restaurant
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
7.25%
Occupancy:
100%
No. Stories:
1
Tenancy:
Single
Year Built:
2009
Lot Size:
0.37 AC
Listing ID
16475848
Last Updated
over 1 year ago

Highlights

  • Burger King Corporately Guaranteed Lease (BKC)
  • January 2010 Remodel
  • 10 Percent Rental Increases Every Five Years - Original Term and Options
  • Percentage Rent Clause of 7.5 Percent of Sales During Original and Options as well
  • Additional Tenants - Pennzoil Lube Center, Hardees & McDonalds

Description

We are pleased to present this opportunity to purchase a
freestanding corporately guaranteed Burger King Restaurant and
Building in Nashville, Tennessee.

This NNN investment is located at 7116 Highway 70 South in Nashville
in an area known as the Bellevue area. The subject property is a
approximately 2,736 square foot, single tenant restaurant building
situated on approximately 0.37 acre parcel of land. The property boasts
frontage on heavily traveled Highway 70 South as sits as an out-parcel
to a Bellevue Plaza strip mall anchored by a TJ Maxx and CVS.

Located in an established and proven location having
operated as a Burger King since being constructed in 1989. The property
underwent renovation in 2005. Brand New Remodel will begin January 2010. The investment is subject to an original
15 year corporate lease which commenced on August 09, 2005. There are
approximately 11 years remaining on the original lease term and 10
percent rental increases every five years. There are three five-year
options to extend the lease under the same terms and conditions as in
the original lease term. In addition to base rent, the tenant (BKC) shall
pay a percentage rent in an amount equal to 7.5 percent of the Gross
Sales of tenant minus base rent payable in quarterly installments
during the term or any extensions as set forth in the lease.

Map of 7116 Highway 70 South, Nashville, TN 37221 (Davidson County)

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Created 11/17/2009