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Corporate Burger King 250 Virginia St 3,931 SF Retail Building Crystal Lake, IL 60014 $2,030,000 ($516.41/SF) 5.55% Cap Rate
Investment Highlights
- 10 years remaining on corporate lease
- Established location for Burger King since 1978
- Tenant reporting strong store sales
- Absolute NNN lease with 7.5% fixed rent increases every 5 years
- Abundant on-site parking for 47 cars
Executive Summary
There are 10 years remaining on a corporate lease executed by Burger King Company, LLC. The lease is absolute NNN with 7.5% fixed rent increases every 5 years. Situated on a large parcel of land of +/-.95 acres that provides abundant on-site parking of 47 spaces. This Burger King was updated in 2018 and is situated adjacent to a Savers/Petco anchored shopping center. Daily traffic count on West Virginia Street is reported at 29,900/cars.
The city of Crystal Lake is situated approximately 45 miles northwest of Chicago and has a reported city population of 40,000. Burger King is required to report annual store sales which are strong so contact listing agent to further discuss.
The city of Crystal Lake is situated approximately 45 miles northwest of Chicago and has a reported city population of 40,000. Burger King is required to report annual store sales which are strong so contact listing agent to further discuss.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,931 SF
Building Class
B
Year Built/Renovated
1980/2018
Price
$2,030,000
Price Per SF
$516.41
Cap Rate
5.55%
NOI
$112,673
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.95 AC
Zoning
B-2 - Commercial
Parking
47 Spaces (11.96 Spaces per 1,000 SF Leased)
Frontage
75’ on Virginia St
Amenities
- Pylon Sign
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
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 Type | Lease End | |
|
|
Accommodation and Food Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 19-05-334-033 | Improvements Assessment | $161,028 |
| Land Assessment | $186,547 | Total Assessment | $347,575 |
Property Taxes
Parcel Number
19-05-334-033
Land Assessment
$186,547
Improvements Assessment
$161,028
Total Assessment
$347,575
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Corporate Burger King | 250 Virginia St
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