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Burger King

Altoona, Pennsylvania

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NNN Pro Group is pleased to present the exclusive listing for a Burger King located at 216-226 E. Pleasant Valley Boulevard. The site consists of roughly 2,905 rentable square feet of building space on estimated 0.71-acre parcel of land. This investment opportunity is subject to an existing 11 Year Triple-Net (NNN) lease with zero landlord responsibilities. The tenant retains five (5), five (5) year renewal options. The current annual rent is $118,883 and is scheduled to increase by one percent (1.00%) annually throughout the base term. In each option period the rent will increase by one percent (1.00%) annually.

 Approximately 11 Years Remaining On Original 15 Year Lease
 Triple Net (NNN) Lease with Zero Landlord Responsibilities
 Guaranteed by Carrols, LLC | Largest Burger King Franchisee With Over 1,110 Units
 Attractive Rental Increases of One Percent (1.0%) Annually
 Five (5) Tenant Renewal Periods of Five (5) Years Each

Key Details

Price:
$1,998,034
Cap Rate:
5.95%
Annual Rent:
$118,883
Address:
216-226 E. Pleasant Valley Boulevard, Altoona, Pennsylvania 16603
Property Type:
Retail
Lease Type:
Triple-Net (NNN)

Original Lease Term:
15 Years
Lease Commencement:
1/1/2019
Lease Expiration:
12/31/2034
Lease Term Remaining:
11 Years
Rental Increases:
1.0% Annually
Lot Size:
0.71 Acres
Building Size:
2,905 SF
Year Built:
2001
Tenant:
Burger King

Talk to the pros

Glen Kunofsky

License: 49KU1129178

James Westerberg

License: 10401304686

Howard Curd

License: 10401339720

Broker of record

Brian Brockman

Bang Realty-Pennsylvania, Inc

License: RM432816


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