Cap Rate
5.50%
Gross SQFT
10,570
Year Built
1988
Property Type
Retail
INVESTMENT HIGHLIGHTS
- Largest Operator in System – Carrols Restaurant Group (NASDAQ: TAST) is the largest operator in the Burger King system and currently operates ±1,100 Burger King and Popeyes restaurants.
- Ideal 1031 Exchange Candidate – Burger King/Exxon has ±15 years remaining on the base term of their lease but have the option to stay at this location until 2058, offering investors a bond-like, long-term investment.
- Absolute NNN Lease – The tenant is responsible for all expenses providing an investor with passive income and no landlord responsibilities.
- Strategic Location – The Burger King/Exxon is positioned next to I-85, which is one of North Carolina’s main interstates taking you directly to downtown Durham. The corner intersection of Ruin Creek Rd and I-85 sees ±31,809 VPD.
- Driving Distance to Raleigh, NC – Raleigh is the second largest city in North Carolina and boasts one of the fastest growth rates of 3.4% per year. Raleigh is less than an hour drive from the subject property.
- Complimentary Retail – The subject property is located next a multitude of national retail properties. Some of which include Walmart Supercenter, Cracker Barrel, Dollar Tree, Pizza Hut, Chick-fil-A, Bojangles, Starbucks, McDonald’s, Food Lion, Popeyes, and Lowe’s Home Improvement to name a few.
- Maria Parham Health Hospital – directly across the street from the property is the Maria Parham Health Hospital, which is regarded as the region’s largest and most comprehensive emergency department. Equipped with 205 licensed beds, 150 Physicians, and 700 clinical and support staff, the hospital prides itself on its commitment to quality care services.
Broker of Record
- Brian Brockman
- License No. C28862 (NC)
- (866) 889-0550
- Bang Realty-North Carolina, Inc.
- 11427 Reed Hartman Hwy Suite 236,
Cincinnati, OH 45241