Burger King - Oxford, NC_Property for Sale
Burger King - Oxford, NC_Property for Sale
825 Linden Ave, Oxford, NC, 27565, US

Burger King - Oxford, NC

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the Burger King located in Oxford, NC (the “Property” or “Asset”). The lease is guaranteed by Cambridge Franchise Holdings, LLC, a subsidiary of Carrols Restaurant Group with 200+ units. Carrols Restaurant Group (NASDAQ: TAST), is one of the largest restaurant companies in the US and largest Burger King Franchisee globally. The lease currently has 13.5-years of term remaining, subject to a 1.50% annual rent increases with four 5-year renewal options.


Founded in 1953, Burger King® is the second largest fast food hamburger chain in the world and attracts over 11 million guests annually. Owned by Restaurant Brands International Inc. (NYSE:QSR), Burger King® operates 19,310+ stores across all 50 U.S. states and 100+ other countries.


The Asset is ideally situated just off interstate 85 at the hard corner of M.L.K Jr. Ave and Industry Drive. The surrounding area includes numerous national retailers such as Walmart, Walgreens, AutoZone, CVS, Bojangles, Family Dollar, McDonalds KFC, Pizza Hut and more. Oxford, NC is part of the Raleigh-Durham MSA, one of the fastest growing cities in the united states. According to the American Growth Project, the MSA is ranked fourth among the fastest growing cities in the country.

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Attributes

Asking Price
₱155,181,000
Building area Gross
293 sm
Occupancy
100.00%
Year built
1982 / 2016
Land area Gross
0.41 ha (4,084 sm)
Cap Rate
6.01%
NOI
₱9,324,000

Media

Investment highlights

  • Experienced operator and parent company
  • Carrols Restaurant Group (NYSE: TAST) is ultimate parent company
  • The lease is guaranteed by Cambridge Franchise Holdings, LLC, a subsidiary of Carrols Restaurant Group with 200+ units
  • 13.5 years of remaining lease term with 1.50% annual rent bumps
  • Located within the Raleigh-Durham-Cary CSA, one of the fastest growing areas in the united states
  • The surrounding area includes numerous national retailers such as Walmart, Walgreens, AutoZone, CVS, Bojangles, Family Dollar, McDonalds KFC, Pizza Hut and more
  • 4 x 5-year renewal options with high probability of extension
  • The asset is situated at a stop light corner along M.L.K. Jr. Ave
  • The Property Features A Drive-Thru


Burger King - Oxford, NC 4_Property for Sale
Burger King - Oxford, NC 4_Property for Sale

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Burger King - Oxford, NC (0 Properties)

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Last updated
May 16, 2023