2020 Ken Pratt BlvdLongmont, CO 80501
Burger King
Rare Low Price Point Percentage Rent | NNN Investment Property
Overview
Price: $1,692,000 | Cap Rate: 5.54%
Base Rent: $63,600 | % Rent: $30,141 | NOI: $93,741
- Address: 2020 Ken Pratt Blvd, Longmont, CO
- Building SF: 2,958
- Year Built / Remodeled: 1985 / 2017
- Lease Term Remaining: 12 Years
- Lease Type: Absolute Triple Net (NNN)
Investment Highlights
- Passive Cash-flow: 12+ years remaining on an absolute NNN lease with no landlord responsibilities.
- Percentage Rent Lease: This rare structure provides investors with potential upside in rent and a hedge against inflation. The lease also assures that the tenant remains profitable and committed to the location. (See Page 4)
- Recent Remodel: The 2,958 SF drive-thru building was completely remodeled in 2016 to reflect the most recent Burger King building prototype.
- Low Price-Point & Replaceable Rent: The tenant is paying below typical rent compared to other free-standing QSR properties throughout Colorado. It is also currently one of the lowest price-point QSR listings in the state.
- Village At the Peaks: The property is situated at the entrance to the Village at the Peaks shopping center, the most visited shopping center in Longmont. With 6 million annual visits, the Village at Peaks ranks in the 97th percentile for shopping centers nationwide and the 96th percentile for shopping centers in Colorado.
- Strategic Location: The subject has direct visibility and access from Ken Pratt Blvd (25,000+ VPD). Situated on a signalized corner pad to the larger center, patrons can easily access the property on their way to and from the larger center.
Photo Gallery
2020 Ken Pratt BlvdLongmont, CO 80501
Village at the Peaks
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Listing provided by Revere CRE