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Burger King 14 Pearl Rd 4,218 SF Retail Building Brunswick, OH 44212 $2,372,990 ($562.59/SF) 5.95% Cap Rate
INVESTMENT HIGHLIGHTS
- Long Term Absolute NNN Lease – At closing, the tenant will execute a new 15-year absolute NNN lease featuring 10% rent increases every five years
- Storefront Renovation – The property underwent a full renovation in 2017, featuring updated finishes and modernized branding
- Local Traffic Drivers – The property is surrounded by multiple housing developments – Monterey Apartments (178 Units), Forest Hills Apartments
- Established Franchisee – The franchisee has been operating Burger King restaurants since 1959
- Strong Retail Corridor – Located on the Hard Corner of Pearl Road and Boston, the signalized intersection sees ±14,300 VPD.
- Strong Sales – The sale-leaseback rental rate is supported by an 8.5% rent-to-sales ratio over the trailing three years.
EXECUTIVE SUMMARY
Matthew Wallace
Broker of Record
License No. REC.2022007431 (OH)
Broker of Record
License No. REC.2022007431 (OH)
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
4,218 SF
Building Class
B
Year Built/Renovated
1997/2018
Price
$2,372,990
Price Per SF
$562.59
Cap Rate
5.95%
NOI
$141,193
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.00 AC
Parking
50 Spaces (11.85 Spaces per 1,000 SF Leased)
Frontage
53’ on Pearl Rd
AMENITIES
- Signage
- Signalized Intersection
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Accommodation and Food Services
- -
- -
- -
Burger King is known for serving high-quality, great-tasting, and affordable food. Founded in 1954, Burger King is the second largest fast food hamburger chain in the world. The original Home of the Whopper, their commitment to premium ingredients, signature recipes, and family-friendly dining experiences is what has defined their brand for many successful years.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Accommodation and Food Services | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 003-18A-16-005 | Improvements Assessment | $245,410 |
| Land Assessment | $91,340 | Total Assessment | $336,750 |
PROPERTY TAXES
Parcel Number
003-18A-16-005
Land Assessment
$91,340
Improvements Assessment
$245,410
Total Assessment
$336,750
CONTACTS
-
Jonah Yulish -
Ethan Smith -
Konnor Schwerdtfeger -
Matthews Real Estate Investment Services
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Burger King | 14 Pearl Rd
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