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Burger King 3049 Dixie Hwy 3,353 SF Retail Building Edgewood, KY 41018 $1,983,000 ($591.41/SF) 5.75% Cap Rate
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, drive-thru-equipped Burger King investment property located in Edgewood, KY. The tenant, Carrols, LLC, has over 11 years of term remaining, with an additional four (4) 5-year option periods to extend. The lease features 8% rental increases every 5 years throughout the initial term and renewal options, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1954, Burger King is among the leading global QSR hamburger chains, with over 30,000 restaurants in 120+ countries.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,353 SF
Year Built
2016
Price
$1,983,000
Price Per SF
$591.41
Cap Rate
5.75%
NOI
$114,026
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.79 AC
Zoning
C1 - Commercial
Parking
32 Spaces (9.54 Spaces per 1,000 SF Leased)
Frontage
154’ on Dixie Hwy
Amenities
- Pylon Sign
- Restaurant
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 015-30-10-001.00 | Improvements Assessment | $1,475,000 |
| Land Assessment | $553,000 | Total Assessment | $2,028,000 |
Property Taxes
Parcel Number
015-30-10-001.00
Land Assessment
$553,000
Improvements Assessment
$1,475,000
Total Assessment
$2,028,000
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Burger King | 3049 Dixie Hwy
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