Burger King 1998 S Kipling Pky

Investment Highlights

Tenant operates under an absolute NNN lease with no landlord responsibilities whatsoever, insulating a buyer from potential increases in capital With approximately 14 years remaining on the lease, and fixed 10% rent increases every 5 years, this provides a future owner with additional cash flow Burger King has successfully operated at this same location since the property was built in 1989, and extended their lease for 20 years in 2017 which expenses and return on investment, along with a protection against inflation further demonstrates their commitment to this location

Executive Summary

Bang Realty is pleased to present a single-tenant net leased investment property in Lakewood, Colorado, a suburb of Denver and part of the Denver metropolitan area. The subject property has been occupied by Burger King since the property was built in 1989, and is located at 1998 S Kipling Parkway. The site consists of an approximately 3,878 square foot building on an approximately 0.98 acre parcel of land. Strategically located near the signalized intersection of S Kipling Parkway and W Jewell Avenue, two main retail and residential thoroughfares, the subject property benefits from prominent visibility, excellent ingress and egress, strong traffic volumes, a local trade area that provides demand and synergy, and limited fast food/quick service restaurant competition. In addition, this Burger King property features a drive-thru and pylon signage. This Burger King property is store #5222 of approximately 7,050 in the entire Burger King system. Burger King #5222 has successfully operated at this same location for almost 35 years. In 2017, Burger King completed their ITP program to renovate the property, renew their franchise agreement, and extend the lease term for 20 years. Per the Cost Sharing Agreement, the total cost of the ITP program was $600,000 with the landlord only responsible for paying a maximum of $275,000. The long-term operating history, combined with a commitment to this location and a strong franchise lease guarantor, equates to a highly demanded and seasoned property.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Fast Food Fast Food General Retail Restaurant Fast Food
• Building Size    3,878
• Building Class    B
• Year Built    1989
• Price    2,880,000
• Price Per SF    743
• Cap Rate    5.50
• NOI    158,400
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.09
• Land Acres    0.98 AC