Address: 1720 Airline Hwy, Hollister, California, United States 95023
Cap Rate: 4.50%
Lease Type: Triple Net (NNN)
Annual Rent: $189,325
Net Operating Income: $189,325
Lease Term Remaining: 18.5 Years
Rental Increases: 1.75% Annually Starting Year 7
Options: Four (4), Five (5)-Year Options
Rentable Sq/Ft: 3,303 SF
Rent Sq/Ft: $57.32
Price Sq/Ft: $1274
Lot Size: +/-0.71 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Burger King located at 1720 Airline Highway in Hollister, CA. The property consists of 3,303 square feet of building space and is situated on roughly 0.71 acres of land. The Burger King is subject to a 20-year absolute triple net (NNN) lease, with 18.5 years remaining on the base term. The base rent is $189,325 and will increase by 1.75% 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.
This Burger King Property is located at 1720 Airline Highway in Hollister, CA. Hollister is the largest city in, and the county seat of, San Benito County.
This Burger King is strategically positioned as an outparcel to a shopping center and situated in a dense retail corridor consisting of major retail and restaurant tenants. Major tenants in the area include: Chase, Shell, Subway, Taco Bell, Kmart, Safeway, Nob Hill Foods, Wing Stop, Target, Walgreens, Chevron, Rite Aid, Starbucks, Panera Bread, Ace Hardware, and McDonald’s. In addition to these major retail and restaurant concepts, the subject property benefits from being located just dong the street from Hazel Hawkins Memorial Hospital. This state-of-the-art medical center offers services that range from emergency services and primary care to orthopedics and physical therapy & rehabilitation services. Another attraction the area is San Benito High School, which is located just west of the subject property and has a total enrollment of nearly 3,000 students.
The subject property has approximately 47,000 individuals residing within a three-mile radius and 49,000 individuals within a five-mile radius of the property. This Burger King is situated on Airline Highway, which has an average daily traffic count of 10,000 vehicles. The subject property also benefits from its close proximity to Sunnyslope Rd, which brings a total of 22,000 vehicles into the immediate area, on average, each day.
The city of Hollister is the largest city in the county of San Benito, as well as serving as its seat. Hollister sits roughly 15 miles east of Salinas, which an urban area located just outside the southern portion of the Greater Day Area and 10 miles east of the mouth of the Salinas River. The city is located at the mouth of the Salinas Valley roughly eight miles from the Pacific Ocean and has a climate more influenced by the ocean than the hot-summer interior. The city serves as the main business, governmental, and industrial center of the region. The marine climate is ideal for the floral industry, grape vineyards, and vegetable growers. Salinas is known for its vibrant and large agriculture industry being nicknamed the “The Salad Bowl of the World”. Salinas is known for its AgTech Industry, and is known as the emerging AgTech Capital of the nation and a global hub for agricultural technology. Its close proximity to Silicon Valley and large number of agricultural employers give forth to an ideal location for developing high tech agricultural innovations. Since 2015, Forbes has hosted the yearly Forbes AgTech Summit in Salinas. The event attracts AgTech entrepreneurs from around the world.
Broker of Record: Kent Williams – License # 00823860