For Sale
$1,117,000

123 Premier DrGeneva, AL 36340

High-yield Burger King, 14.5 years remaining.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 3,435 square foot, free-standing Burger King building located at 123 Premier Drive, Geneva, AL 36340. Built in 2018, this Class B property sits on a 0.85-acre lot and boasts a 100% occupancy rate under a 20-year Absolute NNN lease with 14 years remaining. The lease commenced October 29, 2018, and expires October 31, 2038, featuring 10% rent bumps every five years, providing a strong hedge against inflation. The current annual net operating income (NOI) is $67,000, representing a 6.00% cap rate on the asking price of $1,117,000. The lease is backed by Bulldog Restaurants, LLC, a subsidiary of Starboard Investments, a significant operator of numerous restaurant locations. The property benefits from a healthy sub-8.5% rent-to-sales ratio and shows strong sales growth of approximately 8.5% in 2023, indicating potential for increased future income. The property enjoys a prime location within Geneva's main retail corridor, with excellent visibility and proximity to major retailers like Walmart and Piggly Wiggly, a medical center, a high school, and a food distributor. This is a passive investment opportunity with zero landlord responsibilities, offering significant long-term value and potential for immediate upside based on 2023 sales exceeding percentage override thresholds.

Highlights

  • 14.5 years remaining on a 20-year absolute NNN lease.
  • Passive investment; absolute NNN lease with zero landlord responsibilities.
  • Strong tenant: Leased to Bulldog Restaurants, LLC, a Starboard Investments subsidiary operating numerous restaurants.
  • Potential for immediate upside; 2023 sales exceeded percentage override thresholds, resulting in nearly $2,000 in additional unreported income.
  • Strong sales growth; 8.5% increase in 2023 sales and a healthy sub-8.5% rent-to-sales ratio.
  • 10% rent increases every five years, providing inflation protection.

Property Details for 123 Premier Dr

Property type
Retail properties, Restaurants
Square Feet
3,435 SF
Class
B
Year Built
2018
Buildings
1
Lot Size (sq. ft)
37,026 SF
Units
1

Location Insight

City
Geneva
County
Geneva
State
Alabama
Latitude
31.0496748
Longitude
-85.8988442
123 Premier Dr, Geneva, Alabama

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
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 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 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].
123 Premier Dr
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