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Burger King 1900 Cooper Foster Park Rd W 3,060 SF Retail Building Lorain, OH 44053 $3,320,061 ($1,084.99/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
- Strong Retail Corridor – The property is located at a signalized intersection, providing multiple ingress and egress points.
- Strong Sales – The sale-leaseback rental rate is supported by an 8.5% rent-to-sales ratio over the trailing three years.
- Established Franchisee – The franchisee has been operating Burger King restaurants since 1959
- New Surrounding Development – The Corridor has benefited from several surrounding new home developments and senior housing facilities
- Burger King “Reclaim the Flame” Initiative – Burger King is executing its multi-year “Reclaim the Flame” strategy to drive national sales growth
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
Property Subtype
Fast Food
Building Size
3,060 SF
Building Class
C
Year Built/Renovated
1978/2016
Price
$3,320,061
Price Per SF
$1,084.99
Cap Rate
5.95%
NOI
$197,544
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.94 AC
Zoning
B-2 - General Commercial
Parking
35 Spaces (11.44 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
- 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 | 02-02-004-106-020 | Improvements Assessment | $299,982 |
| Land Assessment | $51,594 | Total Assessment | $351,575 |
PROPERTY TAXES
Parcel Number
02-02-004-106-020
Land Assessment
$51,594
Improvements Assessment
$299,982
Total Assessment
$351,575
CONTACTS
-
Jonah Yulish -
Ethan Smith -
Konnor Schwerdtfeger -
Matthews Real Estate Investment Services
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Burger King | 1900 Cooper Foster Park Rd W
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