Burger King (Ground Lease) (In Contract)

341 North Mayo Trail
Paintsville, KY 41240

Property: Investment Sales

Square Footage: +/- 2,736

Acreage: +/- 0.60

Price: $793,800

Cap Rate: 5.50%

Anchor Tenants: Food City, Lowe’s Home Improvement, Ollie’s Bargain Outlet, Peebles, Big Sandy Superstore, Walmart (Shadow Anchor)

Description:

  • 10 year lease extension exercised in 2017 with one 10 year extension remaining
  • Unit opened in 1997 and underwent a $450,000 remodel in 2017
  • Burger King is the second largest quick serve burger chain in the world with over 14,000 locations in 100 bcountries and U.S. territories
  • Franchisee is a 48 unit operator founded in 1984 and based in Huntington WV
  • Outparcel to Mayo Plaza, a dominant regional shopping center with a trade area population over 66,800
  • Other anchor tenants include Lowe’s, Food City, Ollie’s Bargain Outlet, Peebles, Big Sandy Superstore and a Walmart shadow anchor
  • Daily traffic counts of 13,700 in front of the property on the market’s primary retail and restaurant corridor
  • Positioned adjacent to Johnson County High and Middle Schools with a combined 1400+ students
  • Paintsville is the county seat and a business, education, arts, recreation and leisure hub for the eastern Kentucky region

Burger King (Ground Lease) (In Contract)

Downloads

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Contact

Tyson Glasser, CCIM
Investment Sales Director
(864) 263-5427 - Main
(404) 435-6312 - Mobile