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Burger King 2224 Leavitt Rd 2,904 SF Retail Building Lorain, OH 44052 $2,541,145 ($875.05/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
- Surrounding Tenancy – The asset is positioned among a diverse mix of national and local retailers, including Marco’s Pizza, Family Dollar
- Established Franchisee – The franchisee has been operating Burger King restaurants since 1959
- Strong Sales – The sale-leaseback rental rate is supported by an 8.5% rent-to-sales ratio over the trailing three years.
- Premier Location – Strategically located within one of Ohio’s highest-income blue-collar neighborhoods, offering strong consumer spending power
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
2,904 SF
Building Class
B
Year Built/Renovated
1969/2017
Price
$2,541,145
Price Per SF
$875.05
Cap Rate
5.95%
NOI
$151,198
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.33 AC
Parking
27 Spaces (9.3 Spaces per 1,000 SF Leased)
Frontage
52’ on Leavitt Rd
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 | - | - | - |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $240,587 | |
| Land Assessment | $47,201 | Total Assessment | $287,788 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$47,201
Improvements Assessment
$240,587
Total Assessment
$287,788
CONTACTS
-
Jonah Yulish -
Ethan Smith -
Konnor Schwerdtfeger -
Matthews Real Estate Investment Services
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Burger King | 2224 Leavitt Rd
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