Burger King Lake Worth,Florida

$2,863,000
Closed Single-Tenant
Property type:Single-Tenant Net Lease

The space

  • Listing Price: $2,863,000
  • NOI: $121,670
  • Cap Rate: 4.25%
  • Lease Type: NNN Ground Lease
  • Guarantor: Corporate Guarantee
  • Rentable Square Feet: 3,774
  • Lot Size: 0.45 Acres
  • Year Built: 1967

Description

231 North Dixie Highway
Lake Worth, Florida 33460

Investment Highlights

  • Well Established Location, 47th Burger King Ever Built | Tenant Has Been in Place for More Than 55 Years Showing a Strong Commitment to the Site
  • Listing Consists of Two Separate Parcels: Parcel A – 3,774-Square-Foot Burger King Building & Parcel B – Parking Lot and Drive-Thru Lane
  • Burger King Corporate Triple Net (NNN) Ground Lease
  • Burger King System Operates More Than 18,700 Locations in More Than 100 Countries and U.S. Territories
  • Population Over 245,000 Within Five Miles of Subject Property
  • Located on Dixie Highway With a Traffic Count of More Than 20,000 Vehicles Daily and Less Than One Mile from the Access Ramps of Interstate 95 With 181,000 Vehicles Per Day
  • Directly Across the Street from Publix Super Market | Along With Many Local Retailers, Surrounding National Retailers Include Starbucks, Sherwin Williams, Dollar General, T-Mobile, The UPS Store, TooJay’s Deli, Bank of America, Wells Fargo, TD Bank, CVS, Walgreens, 7-Eleven and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Burger King in Lake Worth, Florida. This Burger King is a well-established location, the 47th Burger King ever built. The Tenant has been in place for more than 55 years showing a strong commitment to the site. The Burger King brand is the second largest fast food hamburger chain in the world, operating more than 18,700 locations in more than 100 countries and U.S. territories.

This Burger King offers a corporate, triple net ground lease. The lease offers two, five-year tenant renewal options with ten percent rent increases every five years throughout the option periods. The property consists of two separate parcels; Parcel A includes a 3,774-square-foot Burger King building and Parcel B includes a parking lot and drive-thru lane.

The subject property is located on Dixie Highway with a traffic count of more than 20,000 vehicles daily, and directly across the street from Publix Super Market. Along with many local retailers, surrounding national retailers include Publix, Starbucks, Sherwin Williams, Dollar General, T-Mobile, The UPS Store, TooJay’s Deli, Bank of America, Wells Fargo, TD Bank, CVS, Walgreens, 7-Eleven and many more.

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