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Burger King 823 N Main St 4,090 SF 100% Leased Retail Building Wellington, OH 44090 $2,403,710 ($587.70/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
- Surrounding Tenancy – The property is located in the heart of Wellington, surrounded by a strong mix of national and local tenants
- Store Front Renovation – The property underwent a full renovation in 2018, featuring updated finishes and branding
- Established Franchisee – The franchisee has been operating Burger King restaurants since 1959
- Local Traffic Drivers – The property benefits from its proximity to Wellington High School, Forest City Technologies, ResCare of Wellington
- Strong Sales – The sale-leaseback rental rate is supported by an 8.5% rent-to-sales ratio over the trailing three years.
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
4,090 SF
Building Class
B
Year Built/Renovated
1969/2018
Price
$2,403,710
Price Per SF
$587.70
Cap Rate
5.95%
NOI
$143,021
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.08
Lot Size
1.22 AC
Parking
49 Spaces (11.98 Spaces per 1,000 SF Leased)
Frontage
192’ on North Main Street
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
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 18-00-029-000-103 | Improvements Assessment | $314,108 |
| Land Assessment | $147,581 | Total Assessment | $461,689 |
PROPERTY TAXES
Parcel Number
18-00-029-000-103
Land Assessment
$147,581
Improvements Assessment
$314,108
Total Assessment
$461,689
CONTACTS
-
Jonah Yulish -
Ethan Smith -
Konnor Schwerdtfeger -
Matthews Real Estate Investment Services
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Burger King | 823 N Main St
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