About This Restaurant
Investment Highlights
Committed Tenant | Recently Extended the Base Term | ~19 Years Remaining Triple Net (NNN) Lease with Zero Landlord Responsibilities Long Operating History at this Location | Site has Been a Burger King Since 1989
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for the Burger King located at 4228 Bolivar Road, Wellsville, NY. The site consists of roughly 2,724 rentable square feet of building space on an estimated 0.89-acre parcel of land. This Burger King benefits from a recently extended Triple-Net (NNN) lease with 19 years remaining on the base term. This asset requires zero landlord responsibilities. The amended lease commenced on December 30, 2022, and is subject to five (5), five (5)- year tenant renewal options. The annual rent is $103,355 and is scheduled to increase by one percent (1.00%) annually starting in January of 2029 and continuing into the option periods.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food
- Building Size 2,724
- Building Class C
- Year Built 1989
- Price 1,722,583
- Price Per SF 632
- Cap Rate 6
- NOI 103,355
- Percent Leased 100
- Tenancy Multiple
- Building Height 1 Story
- Building FAR 0.07
- Land Acres 0.89 AC
Property Taxes
Parcel Number | 027089-225-000-0003-035-022-0000 | Improvements Assessment | $75,000 |
Land Assessment | $470,000 | Total Assessment | $545,000 |
Date Created: | 2024-07-16 04:18:01 | Last Updated: | 2024-07-16 04:18:01 |
Address: | 4228 Bolivar Rd , Wellsville, New York, 14895 |