Phone: 212.686.0072 Fax: [email protected]
Corporate Burger King Ground Lease505 US Hwy 17 92 West - Haines City, FL 33844
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
• Low ground lease rent of $94,922 and corporate lease• 12.5% rent escalations every 5 years• 10 Years remaining on the lease• Pad Site to a Publix, Bealls and Dollar General anchored shopping center• Located off intersection of US 17 (25,000 VPD) & Hwy 27 (42,000 VPD)• Haines City is 35+/- miles south west of Orlando and 20 +/- miles east of Lakeland, FL• Publix is the dominant retail center in the area• McDonald’s is on the next block on the same side of US-17
Price: $2,109,000 | Cap: 4.5% | NNN Ground Rent: $94,922 | 12.5% rent bumps every 5 years
Burger King– Haines City, FL
Investment Overview
Property OverviewEXP Realty Advisors exclusively presents for sale a corporate Burger King Ground Lease (fee). This Burger King building was constructed in 2009 and is located off the intersection of US 17 (25,000 vpd) & Hwy 27 (42,000). It is a pad site to a Publix and Bealls anchored shopping center. Other tenants in this center include Dollar General, Enterprise Rent-a-Car, Advance America, and Anytime Fitness. Burger King has just over 10 years remaining on the base lease term.
INVESTMENT SUMMARY
Price: $2,109,000
Rent Per SF: $37.97
Cap Rate: 4.5%
NNN Ground $94,922Rent
Building: 2,500 sf
Lease Type: NNN Ground Lease
Land: .91 Acres
INVESTMENTOVERVIEWThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Lease Summary
Original Term 20 Years
Options Four (5) year options
Current Rent $94,922
Escalations 12.50% every 5 years in base term and options
Rent Commencement 2009
Base Term Expiation Date November 22, 2029
CAM Reimbursement
Tenant pays fixed CAM directly to the owner of the shopping center which escalates 12.5% every 5 years
Location OverviewHaines City is located between Lakeland and Kissimmee in Florida, an income tax free state. It is in Polk County with a population of over 600,000. Haines City is part of the Lakeland–Winter Haven Metropolitan Statistical Area. The principal city in the MSA is Lakeland. According to a July 1, 2009 United States Census Bureau estimate, the MSA had a population of 583,403. Growth in Polk County is driven by nearness to both the Tampa and Orlando metropolitan areas along the Interstate 4 corridor. Recent growth has been heaviest in Lakeland (closest to Tampa) and the Northeast areas near Haines City (nearest to Orlando). In addition to developing cottage communities for commuters, there is evidence in Haines City of suburban sprawl into unincorporated areas. Polk County is the headquarters of Publix Supermarkets, a regional grocery chain and Polk's top private employer, as well as W. S. Badcock Corporation, Watkins Motor Lines, Saddle Creek Corporation, and IMC Agrico. Polk's location along the I-4 corridor is attracting warehouse and fulfillment center development in the north part of the county.
Tenant: Burger King CorporationFounded in 1954, Burger King is the second largest fast food hamburger chain in the world. Burger King Restaurants feature the popular flame-broiled Whopper sandwich, as well as a variety of hamburgers, chicken and other specialty sandwiches, French fries, salads, breakfast items, snacks, smoothies, frappes and other offerings.
Burger King– Haines City, FL
Market Overview
MARKET OVERVIEWThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Lakeland's retail vacancies have continued to compress in 2019, establishing a new record low in the third quarter. Vacancies have now hovered at or below 4% for the past 10 quarters. However, the record-low vacancy rates haven't translated thus far to a surge in rents.
Asking rents in Lakeland have recently managed to return to their prerecession highs. Given the low vacancies and minimal supply underway, the rent growth could be poised for a rebound over the immediate future.
The Lakeland metro possesses a moderately-sized retail market, as Polk County, with the state's ninth-largest population, generates significant retail demand. Additionally, the metro has one of the nation's best population and job growth rates in recent years, both of which fuel personal consumption. Although Lakeland doesn't see the visitor counts as many other Florida metros, there is a vibrant tourism industry providing additional tailwinds, particularly in the area surrounding Legoland in Winter Haven.The largest drivers of absorption over recent years have noticeably focused on grocery-anchored centers, likely due to Lakeland's strong household formation. With a construction pipeline elevated though still manageable compared to historical build levels and expected strong future demand from the elevated job and population growth rates, vacancies are likely to remain tight for the foreseeable future.
Investment activity is on pace to post the third straight year of above-average volume.
Burger King– Haines City, FL
Property Photos
PROPERTY PHOTOSThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Burger King– Haines City, FL
Birds Eye Photo
PROPERTY PHOTOSThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Burger King– Haines City, FL
Aerial
PROPERTY PHOTOSThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Burger King– Haines City, FL
Property Photos
PROPERTY PHOTOSThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Burger King– Haines City, FL
Site Plan
SITE PLANThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Burger King– Haines City, FL
Aerial Photograph
AERIAL PHOTOGRAPHThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
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Burger King– Haines City, FL
Aerial View
AERIAL VIEWThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Burger King– Haines City, FL
Retail Map
RETAIL MAPThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
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Burger King– Haines City, FL
Location Map
LOCATION MAPThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Burger King– Haines City, FL
Demographic Data
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. DEMOGRAPHICDATA
Contact Us
EXP Realty Advisors52 Vanderbilt Ave
Suite #2014New York, NY 10017www.exp1031.com
Our Team
Robert P. JamesPresident
Phone: 212-686-0072 Email: [email protected]
Daniel de Sa‘Director of Sales
Phone: (212) 972-3947E-mail: [email protected]
2019 Summary 1 Mile 3 Miles 5 Miles
Population 7,606 29,472 55,259
Households 2,320 10,208 20,570
Families 1,713 7,404 14,891
Average Household Size 3.22 2.87 2.67
Owner Occupied Housing Units 1,327 7,046 15,605
Renter Occupied Housing Units 992 3,162 4,965
Median Age 31.3 38.3 44.8
Median Household Income $32,296 $36,440 $40,676
Average Household Income $44,629 $50,258 $57,860
2024 Summary 1 Mile 3 Miles 5 Miles
Population 8,281 32,560 61,620
Households 2,516 11,205 22,801
Families 1,848 8,105 16,467
Average Household Size 3.24 2.89 2.69
Owner Occupied Housing Units 1,481 7,890 17,587
Renter Occupied Housing Units 1,035 3,314 5,214
Median Age 31.1 39.3 45.8
Median Household Income $36,504 $40,301 $45,718
Average Household Income $50,625 $57,757 $65,940
