Burger King

Tenant

Burger King

Location

Sanford, FL

Price

$1,800,000

CAP Rate

4.35%

NOI

$87,450

Lease Term

30 Years

Occupancy

100%

Building Size

4,646 sq ft

Property Type

Single Tenant

Year Built

2000

Lot Size

1.51 Acres

Status

Closed

Property Contacts:

Karly Iacono

Associate Director

(201) 742-6119 | Email

  • Corporate Guarantee
  • Fully-stabilized investment backed by Burger King Corporation (S&P: B+), a whollyowned
    subsidiary of Restaurant Brands International Inc.
  • Absolute NNN Ground Lease
  • Highly passive investment with zero landlord responsibilities.
  • Recent Long Term Lease Extension
  • Burger King has successfully operated at this location for over fifteen (15) years and
    recently executed two (2), five (5) year lease extensions early, securing over fourteen
  • (14) years of remaining term, with two (2), five (5) year options remaining.
  • Above Market Rental Increases
  • 15% rental increases every (5) years and in each option period.
  • Outparcel Location on Oversized Lot
  • Property is ideally-situated as an outparcel on 1.5 acres of land with ample parking (60+
    spaces).
  • Recent Renovations
  • As further evidence of tenant commitment, Burger King recently invested in full scale
    site renovations, including an architectural upgrade to its newest prototype building as
    well as parking lot resurfacing.
  • Orlando, FL MSA
  • Sanford is the principal city of the Orlando Metropolitan Area, a Top 30 MSA, which
    boasts a population of 2,267,800 residents. There are over 124,000 residents within five
    (5) miles of the subject Property.
  • Prime Retail Corridor Location
  • Located in Sanford’s bustling retail corridor, the Property enjoys frontage on S. Orlando
  • Drive and exposure to over +/- 63,100 vehicles per day. Surrounding tenants include
  • Lowe’s Home Improvement, Walmart Supercenter, Ross Dress for Less, Aldi, Dollar
    Tree, Wells Fargo, Chase Bank, Walgreens, CVS Pharmacy, Dunkin’ Donuts, McDonald’s,
    Wendy’s and many more.
  • Income Tax-Free State
  • Florida is one of the rare states which has no state income, estate or inheritance taxes

Marcus & Millichap is pleased to offer for sale to qualified investors a Burger King Corporate Ground Lease located at 3788 S. Orlando Drive in Sanford (Orlando), FL (the “Property”). Burger King has successfully operated at this location for over fifteen (15) years and recently executed two (2), five (5) year lease extensions early, securing over fourteen (14) years of remaining term, with two (2), five (5) year options remaining. Additionally, the tenant recently invested in full scale site renovations, including an architectural upgrade to its newest prototype and parking lot resurfacing, a clear demonstration of its success at the site and commitment to the market. The Property is well-positioned as an outparcel in Sanford’s primary retail corridor with frontage on S. Orlando Drive and exposure to over +/- 63,100 vehicles per day. Surrounding tenants include Lowe’s Home Improvement, Walmart Supercenter, Ross Dress for Less, Aldi, Dollar Tree, Wells Fargo, Chase Bank, Walgreens, CVS Pharmacy, Dunkin’ Donuts, McDonald’s and Wendy’s. Additionally, the Property benefits from close proximity to some of the area’s largest traffic generators, including the Orlando Sanford International Airport, serving over 2.4 million passengers annually, and the 200-acre campus of Seminole State College, located less than two miles from the subject Property. Burger King is a wholly-owned subsidiary of Restaurant Brands International Inc., the third largest quick service restaurant company in the world. On September 30, 2015, the company reported system-wide sales growth of 11.2% for Burger King, compared to the same quarter 2014.