CURRENT TENANT INFORMATION:
Carrols LLC, operating since 1976, is Burger King Corporation’s
largest franchisee and one of the largest restaurant companies in
the US.
Carrols Restaurant Group, Inc (NASDAQ: TAST) is the
indirect parent company of Carrols, LLC and the only publicly
traded Burger King franchisee.
Headquartered in Syracuse, New York, Carrols LLC currently
operates over 572 units.
Burger King, founded in 1954, it is the
second largest fast food hamburger chain in the world.
In 2010, 3G Capital, a global multi-million dollar investment firm
focused on long term value creation purchased Burger King,
BURGER KING
making it a privately-held company.
On June, 20, 2012 Burger
King listed on the NYSE under ticker symbol BKW with 3G Capital
873 W Morgan St | Spencer, IN 47460
as the largest shareholder.
Burger King operates in over 12,500 locations in 82 countries with
★ National Tenant / Publicly Traded Franchisee
★ Fresh Parallel Lease & Franchise Agreement
★ Recently Remodeled / Low price point deal
Land Size (SF)
Building Size (SF)
90% of the locations operated by franchisees.
32,300
3,612
Year Built / Remodeled
May 1995
Remodeled
June 2014
Lease Start
May 2014
SITE HIGHLIGHTS:
Lease Term / Remaining
20 Years / 19 Years
Burger King fronts Morgan Street (Hwy 46) and is at the
intersection of Hwy 46 and Hwy 231 with daily traffic counts of
Renewal Options
2 x 5 year Options
19,180.
Predominant land uses and traffic generators in the local
Current Annual Rent
$84,996
market include Walmart, CVS, Dollar General, Owen Valley
Community High School, Wendy’s, McDonald’s, KFC/Taco Bell,
Cap Rate
Purchase Price:
6.25%
$1,359,936
Lease Notes & Features:
✓ $88,596 June 2017, $93,396 June 2024
✓ 7.5% increase each option period
✓ No ROFR or Purchase options
Dairy Queen, and a Mexican restaurant.
Supportive single family dwellings are east of the subject in
adjoining neighborhoods.
Millena Partners
4192 Conroy Road, Suite 110,
Orlando, FL 32839
Office: 407.370.3211
Email: 1031@Millenia-Partners.com
Licensed Real Estate Broker in conjunction with in state Broker of Record
The statements and figures herein are secured from sources we believe authoritative. References to square footage or age are approximate. This summary is for information only and does not constitute all or any part of an offer
or contract. Buyer must verify all information and bears all risk for any inaccuracies. Seller does not warrant any inaccuracies and pricing is subject to change.
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Morgan St - 19,180 AADT
AREA HIGHLIGHTS:
Founded in 1820, Spencer, Indiana is the county seat of
Owen County. Situated in a valley along the north bank of
the West Fork of the White River, 55 miles southwest of
Indianapolis, with Bloomington to the east, and Terre Haute
to the west. Recognized for its tree lined streets.
Manufacturing makes up 32% of the area employment.
Boston Scientific Corp, Spencer Owen Community School
Corp, Cook Urological, Inc., Owen County, and Babbs
Supermarket, Inc. are the top area employers.
★ National Tenant / Publicly Traded Franchisee
★ Fresh Parallel Lease & Franchise Agreement
★ Recently Remodeled / Low price point deal
Demo Radius
Population
Average HH Income
1
3
5
2,167
4,480
8,178
$46,997
$50,888
$53,187
Millena Partners
4192 Conroy Road, Suite 110,
Orlando, FL 32839
Office: 407.370.3211
Email: 1031@Millenia-Partners.com
Licensed Real Estate Broker in conjunction with in state Broker of Record
The statements and figures herein are secured from sources we believe authoritative. References to square footage or age are approximate. This summary is for information only and does not constitute all or any part of an offer
or contract. Buyer must verify all information and bears all risk for any inaccuracies. Seller does not warrant any inaccuracies and pricing is subject to change.