1162 Boone St ExtKingsland, GA 31548

Property Details for 1162 Boone St Ext

Year built

1996

Lot size

1.60 AC

Property size (Sq ft)

3,218 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a Burger King restaurant located at 1162 Boone St Ext, Kingsland, GA 31548. The property boasts a 3,218 square foot building situated on a 1.6-acre lot. Built in 1996 and renovated in 2011, this single-tenant, net-lease property offers a secure investment with a franchisee tenant. The current lease, commencing October 30, 2018, and expiring October 31, 2038, has a remaining term of 14 years, with four 5-year renewal options. The annual net operating income (NOI) is $171,437, resulting in a 6.35% cap rate. The lease is a triple-net (NNN) agreement, meaning the tenant is responsible for all operating expenses, providing the landlord with minimal responsibilities. Rent increases of 5% every 5 years are built into the lease structure, ensuring consistent income growth. The asking price is $2,699,790, translating to $838.97 per square foot. This property offers a compelling combination of a strong tenant, long-term lease, and attractive financial metrics, making it an ideal addition to any investment portfolio. 100% occupancy ensures immediate cash flow.

Location Insight

City

Kingsland

County

Camden

State

Georgia

Latitude

30.7882

Longitude

-81.6538

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