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Burger King 3212 US Highway 98 N
3,337 SF Retail Building Lakeland, FL 33805 $2,929,000 ($878/SF) 5% Cap Rate
Investment Highlights
- Long-Term Absolute (NNN) Opportunity - Single Tenant
- Lease Term Remaining: 6+ years
- NOI: $146,478
- Lease Commencement: 4/1979 - Lease Expiration: 9/2029
- Renewal Options: Two, 5 year renewal options with 2.5% annual increases
- Rent Increases: 8.5% of gross sales
Executive Summary
Lease Term Remaining: 6+ years
Rent Increases: 8.5% of gross sales
Renewal Options: Two, 5-year renewal options with 2.5% annual increases
The property is located at a highly visible retail site with direct access to U.S. Highway 98 (46,500 ADT)
Tenant: The Jan Companies currently owns and operates over 28 Burger King locations in Florida. Over the years, the entire Janikies Family, has worked continuously to diversify into the fast food, full service and country club arena. This impressive portfolio includes Burger King, Newport Creamery, Krispy Kreme, Popeye’s, CoreLife Eatery and several Country Clubs.
Property Facts
Amenities
- Pylon Sign
- Signage
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Accommodation and Food Services
- -
- $56.68
- Triple Net
- Sep 2029
Every day, guests visit Burger King restaurants around the world. And they do so because Burger King restaurants are known for serving high-quality, great-tasting, and affordable food. Founded in 1954, Burger King is the second largest fast food hamburger chain in the world. The original Home of the Whopper, their commitment to premium ingredients, signature recipes, and family-friendly dining experiences is what has defined the brand for years.
Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
Accommodation and Food Services | - | $56.68 | Triple Net | Sep 2029 |
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 23-28-01-000000-031210 | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $1,325,374 |
PROPERTY TAXES
Presented by
NRJ VENTURES LTD
Burger King | 3212 US Highway 98 N
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