Burger King (Gainesville W)

403 Pearl Nix Parkway
Gainesville, GA 30501

Property: Investment Sales

Square Footage: +/- 3,742

Acreage: +/- 1.145

Price: $3,200,000

Cap Rate: 5.50%

Description:

62 year old brand and second largest hamburger chain in the world with about 14,000 locations in 100 countries
7th largest and one of fastest growing BK franchisees in the U.S. with over 220 restaurants in 9 states (largest in ATL)
20 year absolute NNN lease commenced October 2015 with 7.5% rent bumps every 5 years and 4 renewal options
Built in 1995 and remodeled in 2014 with current rent-to-sales ratio around 9%
Located 50 miles northeast of Atlanta along the I-985 corridor next to Lake Lanier in the heart of the submarket
High profile signalized corner near Lakeshore Mall, a 500,000 SF regional mall anchored by Belk, Sears, JC Penney, Dick’s
5 mile radius population of 70,000 with average household income of $54,000 (trade area population of 475,000)
Gainesville is the economic hub for a 14 county region of northeast GA and its fastest growing city (35% since 2000)