Burger King | 1980 Highway 77
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Burger King 1980 Highway 77
3,502 SF Retail Building Southside, AL 35907 $2,256,535 CAD ($644 CAD/SF) 6.15% Cap Rate
Investment Highlights
- Potential NOI Upside of $42,500 per Year Due to Percentage Rent
- Percentage rent potential provides significant upside for a Buyer
- 10% rental increases every five years of initial lease term ,four five year options, with 10% rental increases at the beginning of each options
- Leased to Bulldog Restaurants, LLC, a subsidiary of Starboard Group which is an operator of 165+ restaurants across eight states
Executive Summary
This new Burger King is strategically located along Highway 77 in Southside, AL with direct visibility and access to more than 23,000 vehicles per day directly in front of the site. There is limited competing retail in the immediate trade area, so Burger King should be a welcome new amenity to surrounding residents as well as highway commuters. The property is in close proximity to Southside High School, serving more than 900 students and faculty which will provide this new Burger King with a nice built-in customer base. Near the Coosa River which is a prominent feature that contributes significantly to the local environment and recreational opportunities. Southside is located in Etowah County, and the Coosa River flows near this area, providing both natural beauty and resources
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,502 SF
Building Class
B
Year Built
2018
Price
$2,256,535 CAD
Price Per SF
$644 CAD
Cap Rate
6.15%
NOI
$138,775 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.53 AC
Parking
46 Spaces
Frontage
588 ft on Alabama 77
Amenities
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 21-03-05-0-001-205.000 | Improvements Assessment | $0 CAD |
| Land Assessment | $14,896 CAD | Total Assessment | $14,896 CAD |
PROPERTY TAXES
Parcel Number
21-03-05-0-001-205.000
Land Assessment
$14,896 CAD
Improvements Assessment
$0 CAD
Total Assessment
$14,896 CAD
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Burger King | 1980 Highway 77
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