About This Restaurant
Investment Highlights
Long Term NNN Lease - Original 15 Year Lease With Approximately 11 Years Remaining Strong Franchisee Guarantee - Guaranteed by Carrols LLC, who is the Largest Burger King Franchisee With Over 1,110 Units Attractive Rental Increases and Renewal Options - 1.00% Percent Increases Occuring Annually With 5, 5-Year Options
Executive Summary
NNN Pro is pleased to present the exclusive listing for a Burger King located at 216-226 E. Pleasant Valley Boulevard, Altoona, PA 16603. The site consists of roughly 2,905 rentable square feet of building space on an estimated 0.71-acre parcel of land. This Burger King is subject to a 15-year Triple Net (NNN) lease, which commenced 1/1/2019. The current annual rent is $118,883 and has scheduled increases of 1.00% Annually.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant
- Building Size 2,905
- Year Built 1980
- Price 1,998,034
- Price Per SF 688
- Cap Rate 5.95
- NOI 118,883
- Percent Leased 100
- Building Height 1 Story
- Building FAR 0.09
- Land Acres 0.71 AC
- Opportunity Zone Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Taxes
| Parcel Number | 01-04218960 | Improvements Assessment | $198,900 |
| Land Assessment | $875,600 | Total Assessment | $1,074,500 |
| Date Created: | 2024-07-16 04:18:10 | Last Updated: | 2024-07-16 04:18:10 |
| Address: | 216-226 E Pleasant Valley Blvd , Altoona, Pennsylvania, 16602 | ||