Overview
The offering presents investors with the opportunity to acquire a single-tenant net lease, passive investment located in the high-growth trade area of Kalispell, MT. Burger King has a newly extended 10-year corporate guaranteed lease. The asset is a pad to Tractor Supply and future Dunham’s Sports. There is excellent access and visibility and frontage on Highway 2, which delivers a dynamic location in one of the fastest-growing trade areas in Montana.
Investment Highlights
DYNAMIC LOCATION
The property features strong visibility and site access and is located within the rapidly growing Kalispell trade area featuring new residential and commercial developments.
NNN LEASE
The lease structure is NNN providing the landlord with no management or repair responsibilities.
NEW 10-YEAR LEASE EXTENSION
Burger King executed a brand new 10-year lease extension providing a secure and stable foundation and underscores a commitment to long-term tenancy, offering a reliable and predictable income.
HIGH-GROWTH TRADE AREA
Kalispell was the Montana’s fastest growing city from 2020-2023, growing over 15%. The city has grown nearly 50% over the last decade.
STRONG HISTORICAL OCCUPANCY
This location has operated as a successful Burger King since 2000, featuring nearly 25 years of historical occupancy.
CONTRACTED RENTAL INCREASES
The lease contains a 10% rental increase in year-6 of the 10-year initial term providing solid NOI growth and enhances the cap rate to 6.04%.
STRONG TENANT
The lease signature is Burger King Company, LLC, which is the parent company that controls all Burger King operations.
TRACTOR SUPPLY & DUNHAM’S SPORT ANCHORED
Although not a part of the offering, Tractor Supply and Dunham’s Sports provides significant draw and stability to the property.
