Burger King - Clarksville, IN

915 East Lewis and Clark Parkway, Clarksville, IN, 47129, US

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the ground leased Burger King located at 915 E Lewis and Clark Parkway in Clarksville, Indiana (“Property” or “Asset”). Burger King has been operating on an absolute NNN lease at the site for 35+ years and currently has ±4.5 years of lease term remaining, 10.0% rent escalations every 5-years, and three, five-year renewal options.

Located just four miles north of downtown Louisville, the Property is positioned along Lewis-Clark Parkway, just off I-65 with direct accessibility to more than 103,000 vehicles per day. Burger King is positioned as an outparcel to Green Tree Mall, southern Indiana’s only enclosed regional mall that serves the community and outlying areas.

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Attributes

Asking price

PLN 6,948,000

Cap rate

6.25%

NOI

PLN 435,000

WAULT

4.5 years

Building area net

283 m²

Land area gross

0.38 ha

Media

Investment Highlights

Operating on an absolute NNN ground lease with ±4.5 years of lease term remaining
Outparcel to to Green Tree Mall with 3.1 million visits annually
Carrols Restaurant Group is the largest Burger King franchisee and recently acquired by RBI
Strong occupancy history with more than 35 years at this location and rent-to-sales of 6.15%
Dense commercial corridor off I-65 with accessibility to 103,000 VPD
College town location with The University of Louisville just 9 miles from Property