Property Details

Burger King

Olean, NY
Property ID: 12718

Financial Summary

Asking Price $2,212,570
Cap Rate 5.25%
Net Operating Income (NOI) $116,160
Lease Type NNN
Lease Term Remaining 15 Years
Increases 10% Every 5 Years
The Offering Memorandum for this property is no longer available.

Contact

Jonathan W. Hipp
Capital Markets Head of U.S. Net Lease Group
202.644.8700
Richard Murphy, CCIM
Senior Vice President U.S. Capital Markets Net Lease Group
703.288.2700

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Highlights

  • New 15-year NNN lease with Carrols Corp, the world’s largest Burger King franchisee
  • Carrols Corp guarantee (1000+ stores and $1.2Bil in annual revenue)
  • Remodeled with Burger King’s “20/20 Design”
  • Absolute NNN, no landlord responsibilities
  • Proven location with strong sales history
  • 10% rent increases every five years
  • Less than 1-mile from St. Bonaventure University with 2,100 students

Net Lease Advisor

For more information on this tenant, including averages, overview and credit ratings, visit NetLeaseAdvisor.com.

Location

3007 NYS Route 417 W
Olean, NY

Amanda WillisBurger King