Burger King, Morgantown

2 Lawless Road
Morgantown, WV 26505

PROPERTY SOLD

Property: Investment Sales

Square Footage: 3,569

Acreage: .903

Price: $2,055,000

Cap Rate: 6.50%

Description:

(Under LOI)

  • 20 year absolute NNN lease with 7.5% rent bumps every 5 years and 4 renewal options of 5 years each
  • Existing location built in 1993 and remodeled in 2011 with store sales over $1.23 million in 2013
  • 57 unit operator with over 30 years experience in the QSR industry
  • Located directly off I-79 (42,000+ vehicles per day) next to Lowe’s and Morgantown Mall anchored by
    JC Penney, Elder-Beerman, Belk, Sears, and Carmike Cinemas
  • Morgantown Mall, owned by Glimcher Realty Trust, is over 555,000 SF and 99% leased with a trade area of 370 square miles and over 390,000 people
  • One exit north is University Town Centre with Walmart, Target, Sam’s Club, TJ Maxx, Dick’s Sporting Goods, Bed, Bath & Beyond, HomeGoods, Petco, Old Navy, Barnes & Noble, Giant Eagle, Hollywood Theaters, casual dining restaurants and more
  • Morgantown has been ranked as one of the best small cities in America and is home to West Virginia University with over 30,000 students
  • The I-79 High Tech Corridor is a 73-mile stretch of highway that includes a multitude of colleges/universities, health care centers, and government agencies that shaped the region’s economic landscape and will stabilize it for years to come