503 Highway 16 W - Restaurant FOR SALE


Carthage, MS 39051
$1,936,000 USD
332-345-4222
503 Highway 16 W, Carthage, MS for Sale
$1,936,000 USD
Restaurant - FOR SALE
1/2
null | 6.25% Cap Rate

503 Highway 16 W
Carthage, MS 39051


HIGHLIGHTS

  • Long Term Lease | More than 15 Years Remaining on an Original 20-Year Lease
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Operated by Carrols Restaurant Group (NASDAQ: TAST), one of the Largest Restaurant Companies and Franchisee’s in the United States

OVERVIEW

NNN Properties, LLC is pleased to present the exclusive listing for a Burger King located at 503 MS-16 in Carthage, Mississippi. The site consists of roughly 3,063 rentable square feet of building space on estimated 2.46-acre parcel of land. This Burger King is subject to a 20-year absolute triple-net (NNN) lease, which commenced on July 18th, 2018 and has more than 15 years remaining. The current annual rent is $121,000 and is scheduled to increase by 10% every five years and in each of the 4, 5-year renewal options.

FOR SALE DETAILS

PRICE

$1,936,000 USD

PRICE/SF

$632 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Burger King

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2017

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.46 AC

LAND SF

107,158 SF

ZONING

-

APN/PARCEL ID

09112CC02

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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Glen KunofskyNNN Pro GroupMore Info
332-345-4222

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.