NNN Pro Group is pleased to present the exclusive listing for a Burger King located at 1611 18th Street, Springfield, OR. The site consists of roughly 2,932 rentable square feet of building space on an estimated 1.00 acres of land. This Burger King is subject to a 20-year absolute triple net (NNN) lease which commenced June 1st, 2021, and has over 17 years remaining.. The base rent is $122,132 and will increase by 1.50% percent annually starting in year seven and continuing throughout the base term and into each of the four (4), five (5)-year tenant renewal option periods.
About the Investment:
✓ Long Term, 20-Year Lease that Commenced in June 2021 – Over 17 Years Remaining
✓ Absolute Triple-Net (NNN) Lease with Zero Landlord Responsibilities
✓ Attractive Rental Increases of 1.50% Annually Beginning in Year 7
✓ Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years
✓ Long Term Tenancy | Burger King has Been Operating at this Location for 40+ Years
NNN Pro is pleased to present the exclusive listing for a Redevelopment Opportunity located at 2237 E Sunshine Street in Springfield, Missouri. The site consists of an estimated 0.71-acre parcel of land. This Redevelopment Opportunity is a currently operating KFC drive-thru that has indicated lease termination to consolidate operations locally. The lease will expire in August of 2024 with a current monthly rent of $10,393. The site offers great visibility on a major thoroughfare with traffic counts of over 31,300 and 37,300 vehicles per day along Sunshine Street and Glenstone Avenue.
INVESTMENT SUMMARY
The NNN Pro Group is pleased to present the exclusive listing for the Red Lobster located at 2696 South Dirksen Parkway, Springfield, IL 62703. The site will consist of roughly 7,468 rentable square feet of building space on an estimated 1.75-acre parcel of land. The Red Lobster is subject to an absolute triple-net (NNN) lease that commenced on 7/28/2014. The annual rent will be $399,938 in August 2024 and is scheduled to increase by 2% Annually throughout the base term and continuing through 4, 5-Year Renewal Options.
About the Investment:
✓ Long-Term, Absolute Triple Net (NNN) Lease
✓ Over 20 Years Remaining on the Base Term
✓ Attractive Two Percent (2%) Annual Rental Increases
✓ Four (4), Five (5)-Year Tenant Renewal Options
✓ Red Lobster Corporate Guarantee (700+ Restaurants)
