For Sale
$1,583,218

2401 Memorial DrGreenville, NC 27834

High-yield Burger King, Greenville, NC

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity features a 2,860 square foot Burger King restaurant in Greenville, North Carolina, operating under a long-term net lease with a strong corporate guarantee. Built in 1994 and renovated in 2011, the property sits on a 1.29-acre lot and boasts a 5.50% cap rate with a substantial NOI. The lease, commenced December 22, 2014, has approximately 10.1 years remaining until expiration on December 31, 2034, with annual rent increases of 1%. The asking price is $1,583,218, translating to $553.57 per square foot. This is a single-tenant, triple-net (NNN) lease, offering a passive income stream with minimal landlord responsibilities. The property enjoys 100% occupancy. The lease is guaranteed by a publicly traded company operating over 1000 Burger King locations.

Highlights

  • Long-term NNN investment opportunity with approximately 10.7 years remaining on the lease.
  • Zero landlord responsibilities due to absolute NNN lease structure.
  • Annual rent increases of 1% throughout the base term and initial renewal options.
  • Strong corporate guarantee from Carrols Restaurant Group (NASDAQ: TAST), operating over 1000 Burger King locations.

Property Details for 2401 Memorial Dr

Property type
Retail properties
Square Feet
2,860 SF
Year Built/Renovated
1994/2011
Lot Size (sq. ft)
56,192 SF

Location Insight

City
Greenville
County
Pitt
State
North Carolina
Latitude
35.6531359
Longitude
-77.3661484
2401 Memorial Dr, Greenville, North Carolina

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2401 Memorial Dr
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