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530 W Mckinley Ave
Mishawaka, IN 46545
Burger King | New 15-Yr NNN | Mishawaka, IN · Retail Property For Sale
Investment Highlights
- New 15-Year NNN Lease with Zero Landlord Responsibilities
- Scheduled 10% Rent Increases Every Five Years
- Recently Remodeled in 2022 on ±1.00 Acre
- Four (4) Five-Year Renewal Options, Up to 35 Years of Total Occupancy
- Guaranteed by Crown Hospitality Partners, Inc. (36-Unit Burger King Franchisee)
- McKinley Avenue Corridor (±19,734 VPD) Connecting Mishawaka and South Bend
Executive Summary
Marcus & Millichap is pleased to present a freestanding Burger King with drive-thru located at 530 West McKinley Avenue in Mishawaka, Indiana, within the South Bend-Mishawaka MSA. The ±4,115-square-foot restaurant, remodeled in 2022, sits on ±1.00 acre and is secured by a new 15-year NNN lease with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $142,604 produces a 5.85% cap rate, with scheduled 10% rent increases every five years providing built-in income growth. The lease is guaranteed by Crown Hospitality Partners, Inc., an experienced 36-unit Burger King franchisee led by career operators with seven decades of combined system experience.
The property is positioned along McKinley Avenue (±19,734 VPD), a major east-west corridor connecting Mishawaka and South Bend, with neighbors including Kroger, Dollar Tree, Taco Bell, and Arby's. The 5-mile trade area holds 176,279 residents with an average household income of $94,565, supported by the University of Notre Dame (13,129 students), Bethel University (1,134 students), and Four Winds Field (400,000 annual visitors). The South Bend-Mishawaka MSA supports 326,282 residents with $1 billion in active downtown development. Burger King operates 19,000+ locations in 120+ countries as a flagship brand of Restaurant Brands International (NYSE: QSR), pairing global brand strength with passive net-lease income.
The property is positioned along McKinley Avenue (±19,734 VPD), a major east-west corridor connecting Mishawaka and South Bend, with neighbors including Kroger, Dollar Tree, Taco Bell, and Arby's. The 5-mile trade area holds 176,279 residents with an average household income of $94,565, supported by the University of Notre Dame (13,129 students), Bethel University (1,134 students), and Four Winds Field (400,000 annual visitors). The South Bend-Mishawaka MSA supports 326,282 residents with $1 billion in active downtown development. Burger King operates 19,000+ locations in 120+ countries as a flagship brand of Restaurant Brands International (NYSE: QSR), pairing global brand strength with passive net-lease income.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
4,115 SF
Building Class
C
Year Built
1985
Price
$2,437,675
Price Per SF
$592.39
Cap Rate
5.85%
NOI
$142,604
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.00 AC
Parking
45 Spaces (10.94 Spaces per 1,000 SF Leased)
Frontage
110’ on Mckinley Ave
Amenities
- Pylon Sign
- Signage
- Drive Thru
Property Taxes
| Parcel Number | 71-09-04-376-010.000-023 | Improvements Assessment | $272,500 |
| Land Assessment | $167,000 | Total Assessment | $439,500 |
Property Taxes
Parcel Number
71-09-04-376-010.000-023
Land Assessment
$167,000
Improvements Assessment
$272,500
Total Assessment
$439,500
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