888 99W | Corning, CA 96021
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888 99W
Corning, CA 96021
Burger King · Retail Property For Sale
Investment Highlights
- 2041 Primary Term Expiration
- Brand New Remodel
- Located in Corning, an Agricultural Hub
- 10% Increases Every 5 Years
- Absolute NNN Lease
- Large Franchisee
Executive Summary
The lease features a primary term expiring in 2041, providing long-term stability for the investor. Additionally, the lease includes a 10% rental increase every five years. In 2023, the property was remodeled to feature one of Burger King’s latest prototype designs. Operating under an absolute NNN lease, the landlord benefits from a passive investment. Corning, CA, is home to Bell-Carter Foods, Inc., the world’s second-largest table olive processor and the largest in the United States. The city also plays a key role in the production of almonds, walnuts, and prunes for Sunsweet Growers Inc. The property is leased by Quikserve Restaurants, Inc., a prominent Burger King franchisee.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,250 SF
Building Class
C
Year Built/Renovated
2005/2023
Price
$3,491,845 CAD
Price Per SF
$1,074 CAD
Cap Rate
5.30%
NOI
$185,068 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.91 AC
Opportunity Zone
Yes
Zoning
C3-SP
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