For Sale
$1,746,661

1005 Bill Tuck Hwy South Boston, VA 24592

High-yield Burger King NNN lease, VA.

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a fee-simple, 3,472 square-foot Burger King restaurant situated on a 1.09-acre lot at 1005 Bill Tuck Hwy, South Boston, Virginia 24592. Built in 1992, the property boasts a strong 100% occupancy rate under a 20-year triple-net (NNN) lease with Carrols Restaurant Group, a major US franchisee. The lease commenced September 25, 2015, and has approximately 10.9 years remaining, with four additional five-year renewal options. The current annual rent is $113,533, with a 2% annual increase built into the lease. The property offers a compelling 6.50% cap rate and a price per square foot of $503.07, making it an attractive addition to any portfolio. The property's strong tenant, long-term lease, and built-in rent escalations provide a stable and predictable income stream. This is a truly passive investment opportunity with zero landlord responsibilities. The property's location in South Boston, Virginia, offers excellent visibility and accessibility. The asking price is $1,746,661, representing a significant return on investment. This is a rare opportunity to acquire a high-performing, established quick-service restaurant property with a proven track record.

Highlights

  • 1. 10.9 years remaining on a 20-year lease.
  • 2. Triple-net (NNN) lease; zero landlord responsibilities.
  • 3. Leased to Carrols Restaurant Group, a major US franchisee.
  • 4. 2% annual rent increases.
  • 5. Four 5-year tenant renewal options.

Property Details for 1005 Bill Tuck Hwy

Property type
Retail properties
Square Feet
3,472 SF
Year Built
1992
Lot Size (sq. ft)
47,480 SF

Location Insight

City
South Boston
County
Halifax
State
Virginia
Latitude
36.688012
Longitude
-78.899617

FAQs

What type of property is this?
Retail property - High-yield Burger King NNN lease, VA.
Where is the retail property located?
The property is located at 1005 Bill Tuck Hwy South Boston, VA.
What is the asking price?
The asking price for this property is $1,746,661.
What are key features of this property?
This property features: 1. 10.9 years remaining on a 20-year lease.; 2. Triple-net (NNN) lease; zero landlord responsibilities.; 3. Leased to Carrols Restaurant Group, a major US franchisee.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1005 Bill Tuck Hwy
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message