Properties

Notice: Undefined offset: 0 in /var/www/vhosts/realtylinkdev.com/httpdocs/wp-content/themes/dazzling/single-property.php on line 65

Burger King (Gainesville W)

403 Pearl Nix Parkway
Gainesville, GA 30501

PROPERTY SOLD

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)