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West Palm Beach, FL - Burger King

65 Benoist Farms Rd | West Palm Beach, FL 33411

$3,250,000

Price

Cap Rate

$130,000

NOI

5,537

± SF Offering GLA

1.95

± AC Land Area

Description

Brand New 20-Year Lease | Strong Franchisee (45+ Units) | 10% Rental Increases | Options To Extend • Brand new 20-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site • The tenant, Seven Restaurants, LLC, is a strong franchisee with more than 45 units throughout South Florida • 7Restaurants is well positioned for exponential growth with the support of a highly seasoned senior management team • The lease features 10% rental increases every 5 years and at the beginning of each option period, increasing NOI and hedging against inflation Absolute NNN (Ground Lease) | Land Ownership | Zero Landlord Responsibilities | No State Income Tax • Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises • Investor benefits from fee-simple ownership of the land • No landlord responsibilities • Ideal, management-free investment for an out-of-state, passive investor

Location

Fronting Southern Blvd / US-98 | Directly Off Florida’s Turnpike | Dual Drive-Thru | Excellent Visibility & Access • Subject property is strategically fronting Southern Blvd / US-98, a primary East/West thoroughfare serving West Palm Beach and averaging more than 84,000 vehicles passing by daily • Burger King is directly off Florida’s Turnpike (79,000 VPD) • The asset is equipped with a dual drive-thru, providing ease and convenience for customers • Dual drive-thru stores generate significantly higher sales and increase productivity New Construction | Adjacent To Future Wawa | Crossover Synergy • Brand new construction which features high quality materials, latest design elements, and state-of-the-art restaurant features • Burger King is adjacent to a Wawa that is under development, increasing crossover synergy between the two tenants Dense Demographics In 5-mile Trade Area | Affluent 1-Mile Radius • More than 248,000 residents and 84,000 employees support the trade area • Average household income within the 1-mile radius is $151,714

Documents & Links

	View	Email
Offering Memorandum

Contact

Patrick Nutt
Sr Managing Principal & Co-Head of National Net Lease
954.302.7365954.302.7365[email protected]FL #: BK3120739
William Wamble
EVP & Principal
813.371.1079813.371.1079[email protected]FL #: SL3257920