Burger King Ground Lease – Absolute NNN
For sale to qualified investors is the fee-simple interest in the Burger King ground lease located just off Interstate 90 in Sheffield Village, Ohio. Showing their commitment to the location, Burger King recently
spent over $250,000 in interior and exterior prototypical store upgrades while simultaneously adding seven years of additional term to the lease, pushing the expiration from 2028 to 2035. Burger King has a one-time right to terminate exercisable in 2028, but only provided the store has not hit $1 million in sales prior to that time. The property is being offered for sale at an attractive 6% cap rate with annual rental increases equal to the lessor of 2% or CPI. The property is located within a block of Interstate 90 (53,590 vehicles per day), and has an additional 24,350 vehicles per day passing directly in from of the store on North Abbe Road. Due to this regional accessibility off of Interstate 90, surrounding national retailers and restaurants include Sam’s Club, Regal Cinemas (20 screens), Gander Mountain, Giant Eagle, At Home, Dollar General, AutoZone, Dollar Tree, Aldi, Quaker Steak & Lube, Cracker Barrel,
Arby’s, Taco Bell, KFC, McDonald’s, Pizza Hut and more.