Property Details

Burger King

Olean, NY
Property ID: 12718

Financial Summary

Asking Price $2,212,570
Cap Rate 5.25%
Net Operating Income (NOI) $116,160
Lease Type NNN
Lease Term Remaining 15 Years
Increases 10% Every 5 Years

Offering Memorandum

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Contact

Jonathan W. Hipp
President & CEO
703.787.4725
Andrew Fallon
Executive Managing Director
703.787.4733
Richard Murphy, CCIM
Managing Director
571.449.8234

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Highlights

  • New 15-year NNN lease with Carrols Corp, the world’s largest Burger King franchisee
  • Carrols Corp guarantee (1000+ stores and $1.2Bil in annual revenue)
  • Remodeled with Burger King’s “20/20 Design”
  • Absolute NNN, no landlord responsibilities
  • Proven location with strong sales history
  • 10% rent increases every five years
  • Less than 1-mile from St. Bonaventure University with 2,100 students

Net Lease Advisor

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Location

3007 NYS Route 417 W
Olean, NY

Amanda WillisBurger King