Investment Summary
Price | $2,200,000 |
Cap Rate | |
NOI | |
Lease Term | 20 years |
Lease Type | Absolute NNN, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot |
Rental Increases | 10% rental increase every five (5) years |
Year Built | 2019 |
Building Size | 2,890 SF |
Lot Size | 0.95 acres (41,382 SF) |
Status | Sold |
Lead Brokers | Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
LONG-TERM ABSOLUTE NNN LEASE
» 20-year NNN lease with no landlord management, providing an ideal investment for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
» Full-term personal guaranty with a net worth of over $25 million
» Burger King has iconic brand recognition as the world’s second largest fast food hamburger chain
» Located in an Opportunity Zone, providing both temporary and long-term tax deferrals for eligible investors
HIGH-TRAFFIC LOCATION IN RETAIL CORRIDOR
» Strategically located on U.S. Highway 281, with excellent visibility and access to 20,000 vehicles per day directly in front of the property
» U.S. Highway 281 serves as Burnet’s primary retail and transportation corridor
» U.S. Highway 281 is also a major south–north route within Texas and the Texas Hill Country, connecting Burnet to Marble Falls and the San Antonio metro area to the south
» Less than a mile from downtown Burnet’s shopping district
STRONG CUSTOMER BASE IN AREA
» Directly across from The YMCA of the Highland Lakes at Galloway-Hammond, a stateof- the-art recreational facility with two indoor pools, a large gym, a fitness center, outdoor sports fields, and a wide range of activities and programs
» The Y at Galloway-Hammond regularly hosts baseball tournaments that draw as many as 40 teams from the Austin and San Antonio metro areas and the Texas Hill Country
» Close to many of the region’s largest employers, including Seton Highland Lakes Hospital (311 employees), Stealth Products (149 employees), Entegris (140 employees), and H-E-B (115 employees)
NEW 2019 CONSTRUCTION FEATURING DUAL-LANE DRIVE-THRU
» 2019 construction featuring dual drive-thru lanes, providing additional customer convenience and boosting sales revenue
» High-quality brick and stucco finishes over a wood frame
» New building, limiting near-term deferred maintenance or capital costs
Property Description
<b>Sold</b>
The property is strategically located on Water Street/U.S. Highway 281, with excellent visibility and access to 20,000 vehicles per day directly in front of the property. U.S. Highway 281, known as Water Street within Burnet, serves as the city’s primary retail and transportation corridor. U.S. Highway 281 is also a major south–north route within Texas and the Texas Hill Country, connecting Burnet to Marble Falls and the San Antonio metro area to the south. The property is less than a mile from downtown Burnet’s shopping district, which features a strong mix of local and national tenants, including well-known retailers like Walgreens, Bealls, McDonald’s, H-E-B, Domino’s Pizza, Dollar General, and Whataburger. Other notable tenants near the property include Taco Bell, Dairy Queen, Chicken Express, O’Reilly Auto Parts, Shell, and Comfort Inn & Suites. A Captain D’s is currently under construction directly adjacent to the property.
The property is conveniently located directly across from The YMCA of the Highland Lakes at Galloway- Hammond, a state-of-the-art recreational facility with two indoor pools, a large gym, a fitness center, outdoor sports fields, an RV park, and a wide range of activities and programs. The center has several baseball fields, and Blue Diamond Tournaments, a baseball tournament organizer, operates five tournaments at the facility. The tournaments draw teams from San Antonio, San Angelo, Austin, and Taylor, among others, and many tournament teams stay in hotels in the Burnet area. Other important community amenities located near the property include the Burnet Municipal Airport and Delaware Springs Golf Course. The property is also close to many of the region’s largest employers, including Seton Highland Lakes Hospital (311 employees), Stealth Products (149 employees), Entegris (140 employees), and H-E-B (115 employees).